Trex Company, Inc. (NYSE:TREX) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 462.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 529,146 shares of the construction company's stock after buying an additional 435,055 shares during the period. The Manufacturers Life Insurance Company owned 0.49% of Trex worth $35,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TREX. Conestoga Capital Advisors LLC raised its holdings in Trex by 3.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,973,668 shares of the construction company's stock valued at $146,288,000 after acquiring an additional 60,405 shares during the last quarter. American Century Companies Inc. grew its position in shares of Trex by 7.1% in the second quarter. American Century Companies Inc. now owns 1,843,376 shares of the construction company's stock valued at $136,631,000 after purchasing an additional 122,658 shares in the last quarter. Geneva Capital Management LLC increased its holdings in shares of Trex by 0.4% in the third quarter. Geneva Capital Management LLC now owns 1,592,533 shares of the construction company's stock valued at $106,031,000 after purchasing an additional 6,616 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Trex by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,224,351 shares of the construction company's stock worth $90,752,000 after buying an additional 92,563 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Trex by 0.6% during the second quarter. Blair William & Co. IL now owns 1,144,126 shares of the construction company's stock worth $84,803,000 after buying an additional 6,901 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Up 0.8 %

Trex stock traded up $0.60 during midday trading on Friday, reaching $75.03. 362,579 shares of the stock traded hands, compared to its average volume of 1,018,332. The firm has a market cap of $8.04 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.39 and a beta of 1.49. The company has a 50-day simple moving average of $68.61 and a two-hundred day simple moving average of $72.92. Trex Company, Inc. has a 12-month low of $58.68 and a 12-month high of $101.91.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter last year, the firm posted $0.57 earnings per share. The business's revenue for the quarter was down 23.1% compared to the same quarter last year. Equities research analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Trex from $95.00 to $69.00 and set a "neutral" rating for the company in a research note on Monday, August 12th. BMO Capital Markets raised their price objective on shares of Trex from $67.00 to $72.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 29th. UBS Group decreased their target price on shares of Trex from $104.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, August 7th. Stephens cut shares of Trex from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $115.00 to $72.00 in a research note on Wednesday, August 7th. Finally, B. Riley reduced their price target on shares of Trex from $107.00 to $97.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.94.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.