MML Investors Services LLC Acquires 8,482 Shares of Trex Company, Inc. (NYSE:TREX)

MML Investors Services LLC increased its holdings in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,920 shares of the construction company's stock after buying an additional 8,482 shares during the period. MML Investors Services LLC's holdings in Trex were worth $3,101,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TREX. JPMorgan Chase & Co. boosted its stake in Trex by 97.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 797,513 shares of the construction company's stock worth $53,098,000 after acquiring an additional 393,850 shares during the last quarter. Atomi Financial Group Inc. bought a new position in shares of Trex during the fourth quarter worth $247,000. Pictet Asset Management Holding SA grew its holdings in shares of Trex by 7.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after buying an additional 969 shares during the period. SG Americas Securities LLC increased its position in shares of Trex by 298.5% in the 4th quarter. SG Americas Securities LLC now owns 6,137 shares of the construction company's stock valued at $424,000 after buying an additional 4,597 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in Trex by 26.6% during the 4th quarter. Park Avenue Securities LLC now owns 7,444 shares of the construction company's stock worth $514,000 after buying an additional 1,566 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. UBS Group lowered their price target on Trex from $76.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. DA Davidson reaffirmed a "neutral" rating and issued a $74.00 price target on shares of Trex in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. Finally, Truist Financial cut their price objective on shares of Trex from $100.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $77.18.

Trex Trading Up 3.4 %

Shares of Trex stock traded up $1.95 during trading on Friday, hitting $59.92. 182,311 shares of the stock were exchanged, compared to its average volume of 1,600,532. The company has a fifty day moving average price of $57.22 and a 200-day moving average price of $66.00. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $94.00.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The construction company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $160.54 million. Equities research analysts forecast that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling at Trex

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares of the company's stock, valued at $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.71% of the company's stock.

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.