The Manufacturers Life Insurance Company Has $41.35 Million Stock Holdings in Trex Company, Inc. (NYSE:TREX)

The Manufacturers Life Insurance Company grew its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 598,972 shares of the construction company's stock after purchasing an additional 69,826 shares during the period. The Manufacturers Life Insurance Company owned about 0.56% of Trex worth $41,347,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Trex in the 3rd quarter worth about $30,000. Mather Group LLC. increased its holdings in Trex by 73.5% in the fourth quarter. Mather Group LLC. now owns 451 shares of the construction company's stock worth $31,000 after buying an additional 191 shares during the last quarter. Avior Wealth Management LLC raised its position in Trex by 1,212.8% during the fourth quarter. Avior Wealth Management LLC now owns 512 shares of the construction company's stock valued at $35,000 after acquiring an additional 473 shares in the last quarter. Huntington National Bank lifted its stake in Trex by 227.2% in the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after acquiring an additional 393 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Trex in the fourth quarter worth approximately $41,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Price Performance

Shares of TREX traded up $2.07 on Friday, reaching $60.04. 1,205,212 shares of the stock traded hands, compared to its average volume of 1,336,187. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $94.00. The stock's 50-day moving average price is $57.18 and its 200-day moving average price is $65.97.

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

Analyst Ratings Changes

Several research firms recently issued reports on TREX. Barclays reduced their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Bank of America decreased their price target on Trex from $85.00 to $79.00 and set a "buy" rating for the company in a research note on Tuesday, February 25th. DA Davidson reissued a "neutral" rating and issued a $74.00 price objective on shares of Trex in a research note on Tuesday, February 25th. Jefferies Financial Group decreased their target price on Trex from $81.00 to $71.00 and set a "hold" rating for the company in a research report on Tuesday, February 25th. Finally, UBS Group dropped their price target on shares of Trex from $76.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $77.18.

Insider Buying and Selling at Trex

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company's 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 sale, the director now owns 1,705 shares of the company's stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% 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.