Dai ichi Life Insurance Company Ltd Acquires New Position in Trex Company, Inc. (NYSE:TREX)

Dai ichi Life Insurance Company Ltd bought a new position in shares of Trex Company, Inc. (NYSE:TREX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,200 shares of the construction company’s stock, valued at approximately $1,878,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. OFI Invest Asset Management purchased a new stake in shares of Trex during the second quarter worth approximately $726,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Trex by 69.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,967 shares of the construction company’s stock valued at $2,073,000 after purchasing an additional 11,455 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Trex during the 2nd quarter worth $19,475,000. DekaBank Deutsche Girozentrale grew its stake in shares of Trex by 33.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 200,000 shares of the construction company’s stock worth $19,716,000 after purchasing an additional 50,000 shares in the last quarter. Finally, L & S Advisors Inc purchased a new position in Trex in the third quarter valued at $1,000,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TREX. Robert W. Baird upped their price objective on Trex from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Benchmark cut their price objective on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered their target price for the company from $95.00 to $75.00 in a report on Wednesday, August 7th. Bank of America reduced their price target on shares of Trex from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, DA Davidson raised their price objective on Trex from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus price target of $79.94.

Trex Price Performance

Shares of NYSE TREX opened at $74.43 on Thursday. The stock has a fifty day moving average price of $68.30 and a 200 day moving average price of $72.98. Trex Company, Inc. has a 1-year low of $58.68 and a 1-year high of $101.91. The company has a market cap of $7.97 billion, a PE ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49.

Trex (NYSE:TREX) last released its earnings results on Monday, October 28th. The construction company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $233.72 million during the quarter, compared to analysts’ expectations of $225.42 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The business’s revenue was down 23.1% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. Analysts anticipate that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.

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.