The Manufacturers Life Insurance Company Boosts Stake in Trex Company, Inc. $TREX

Key Points

• The Manufacturers Life Insurance Company increased its stake in Trex Company by 12.3%, now owning 672,515 shares valued at approximately $39 million.
• Trex reported a quarterly EPS of $0.74, exceeding analysts' expectations, with revenue of $387.8 million, a 3% increase from last year.
• Analysts have given Trex a consensus rating of "Moderate Buy" with an average price target of $71.93, reflecting a range of ratings from Strong Buy to Sell.

The Manufacturers Life Insurance Company boosted its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 672,515 shares of the construction company's stock after buying an additional 73,543 shares during the period. The Manufacturers Life Insurance Company owned 0.63% of Trex worth $39,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. State of Michigan Retirement System lifted its holdings in Trex by 0.8% during the first quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock worth $1,489,000 after buying an additional 200 shares during the period. Stephens Inc. AR lifted its holdings in Trex by 3.7% during the first quarter. Stephens Inc. AR now owns 6,530 shares of the construction company's stock worth $379,000 after buying an additional 236 shares during the period. ProShare Advisors LLC lifted its holdings in Trex by 5.8% during the fourth quarter. ProShare Advisors LLC now owns 5,013 shares of the construction company's stock worth $346,000 after buying an additional 274 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Trex by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the construction company's stock worth $1,743,000 after buying an additional 300 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Trex by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock worth $728,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on TREX shares. UBS Group restated a "neutral" rating and set a $74.00 target price (up previously from $72.00) on shares of Trex in a report on Tuesday, August 5th. Robert W. Baird upgraded Trex from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $65.00 to $75.00 in a report on Thursday, July 10th. Baird R W upgraded Trex from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 10th. Benchmark reiterated a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, May 12th. Finally, Loop Capital reiterated a "hold" rating and set a $66.00 price objective on shares of Trex in a report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $71.93.

Trex Stock Performance

Shares of TREX opened at $61.63 on Monday. The business's 50-day moving average is $61.90 and its two-hundred day moving average is $59.25. The company has a market capitalization of $6.61 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.58 and a beta of 1.51. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $80.74.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $387.80 million for the quarter, compared to the consensus estimate of $377.49 million. Trex had a return on equity of 21.27% and a net margin of 16.53%.The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. Trex has set its Q3 2025 guidance at EPS. Analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total transaction of $98,708.84. Following the sale, the senior vice president directly owned 22,953 shares of the company's stock, valued at approximately $1,473,123.54. This trade represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.74% of the company's stock.

About Trex

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.

Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company, Inc. (NYSE:TREX - Free Report).

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