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

Dai ichi Life Insurance Company Ltd acquired a new stake in Trex Company, Inc. (NYSE:TREX) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 28,200 shares of the construction company’s stock, valued at approximately $1,878,000.

A number of other institutional investors have also recently added to or reduced their stakes in TREX. Hantz Financial Services Inc. acquired a new position in shares of Trex during the 2nd quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Trex in the second quarter valued at about $44,000. Quarry LP grew its position in shares of Trex by 576.4% in the second quarter. Quarry LP now owns 602 shares of the construction company’s stock valued at $45,000 after purchasing an additional 513 shares during the last quarter. Mather Group LLC. increased its stake in shares of Trex by 142.3% during the 2nd quarter. Mather Group LLC. now owns 630 shares of the construction company’s stock worth $47,000 after purchasing an additional 370 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Trex by 150.8% during the 3rd quarter. UMB Bank n.a. now owns 652 shares of the construction company’s stock worth $43,000 after purchasing an additional 392 shares during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Shares of TREX stock opened at $74.43 on Thursday. The company’s fifty day moving average price is $68.30 and its two-hundred day moving average price is $72.98. The firm has a market capitalization of $7.97 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.51 and a beta of 1.49. Trex Company, Inc. has a 12 month low of $58.68 and a 12 month high of $101.91.

Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. Trex had a return on equity of 28.89% and a net margin of 20.23%. The firm had revenue of $233.72 million during the quarter, compared to analyst estimates of $225.42 million. During the same quarter last year, the firm earned $0.57 EPS. Trex’s quarterly revenue was down 23.1% on a year-over-year basis. On average, sell-side analysts anticipate that Trex Company, Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TREX shares. B. Riley reduced their price objective on Trex from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Loop Capital cut shares of Trex from a “buy” rating to a “hold” rating and lowered their price objective for the company from $95.00 to $75.00 in a research note on Wednesday, August 7th. Stephens downgraded Trex from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $115.00 to $72.00 in a report on Wednesday, August 7th. Benchmark dropped their price target on Trex from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Bank of America reduced their price objective on Trex from $97.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $79.94.

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.