The Manufacturers Life Insurance Company Makes New Investment in Trex Company, Inc. $TREX

The Manufacturers Life Insurance Company bought a new position in Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 639,438 shares of the construction company’s stock, valued at approximately $31,997,000.

A number of other large investors have also modified their holdings of the stock. Clearstead Trust LLC purchased a new position in Trex in the 4th quarter worth approximately $33,000. Ascentis Independent Advisors acquired a new stake in Trex in the first quarter valued at approximately $44,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Trex during the fourth quarter valued at approximately $47,000. Empowered Funds LLC acquired a new position in shares of Trex during the fourth quarter worth $50,000. Finally, Versant Capital Management Inc purchased a new position in shares of Trex in the second quarter valued at $58,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Jacob T. Rudolph sold 1,400 shares of Trex stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $50.00, for a total value of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at $1,831,550. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of Trex stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $50.07, for a total transaction of $52,573.50. Following the completion of the sale, the senior vice president owned 67,794 shares in the company, valued at approximately $3,394,445.58. This represents a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Bank of America lifted their target price on Trex from $42.00 to $44.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a report on Tuesday, July 14th. Weiss Ratings downgraded Trex from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Trex from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.30.

Trex Price Performance

NYSE:TREX opened at $46.75 on Thursday. The firm has a market capitalization of $4.86 billion, a P/E ratio of 27.83, a P/E/G ratio of 3.23 and a beta of 1.48. The business has a 50 day simple moving average of $46.76 and a 200 day simple moving average of $42.45. Trex Company, Inc. has a 12-month low of $29.77 and a 12-month high of $66.06.

Trex (NYSE:TREX) last issued its earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.01). The company had revenue of $418.02 million during the quarter, compared to analyst estimates of $415.71 million. Trex had a return on equity of 18.03% and a net margin of 14.68%.Trex’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 earnings per share. Research analysts anticipate that Trex Company, Inc. will post 1.76 EPS for the current fiscal year.

About Trex

Trex Company, Inc is a leading manufacturer of wood-alternative decking and railing systems designed for residential and commercial outdoor living environments. The company’s core offerings feature composite decking products made from a proprietary blend of recycled wood fibers and plastic film, which deliver enhanced durability, resistance to rot and insect damage, and low maintenance compared to traditional wood. Trex also provides matching railing, lighting, fencing and cladding solutions that allow customers to create cohesive, high-performance outdoor spaces.

Trex’s product portfolio is organized into multiple performance tiers, including premium, mid-range and value-oriented lines.