The Manufacturers Life Insurance Company Lowers Stake in Trex Company, Inc. (NYSE:TREX)

The Manufacturers Life Insurance Company cut its stake in Trex Company, Inc. (NYSE:TREX) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,091 shares of the construction company’s stock after selling 1,496 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Trex worth $6,974,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Trex in the fourth quarter worth about $25,000. Mather Group LLC. purchased a new stake in Trex during the first quarter valued at approximately $26,000. Hantz Financial Services Inc. acquired a new stake in Trex in the second quarter valued at approximately $31,000. Sunbelt Securities Inc. grew its holdings in Trex by 1,744.4% in the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock worth $33,000 after purchasing an additional 314 shares during the last quarter. Finally, Rise Advisors LLC increased its position in shares of Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock worth $40,000 after purchasing an additional 305 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Trex Stock Down 2.7 %

Trex stock opened at $66.25 on Friday. Trex Company, Inc. has a 52 week low of $53.59 and a 52 week high of $101.91. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.50. The business’s 50-day moving average price is $66.93 and its 200 day moving average price is $79.55.

Trex (NYSE:TREX) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a net margin of 21.07% and a return on equity of 33.53%. The business had revenue of $376.47 million for the quarter, compared to analysts’ expectations of $387.87 million. During the same quarter last year, the company earned $0.71 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TREX. The Goldman Sachs Group lowered their price objective on Trex from $114.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. DA Davidson dropped their price target on Trex from $89.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Trex from $95.00 to $69.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. B. Riley dropped their target price 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. Finally, Robert W. Baird decreased their price target on shares of Trex from $88.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Trex has an average rating of “Hold” and an average price target of $80.88.

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.