Trex Company, Inc. (NYSE:TREX) Shares Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd raised its holdings in Trex Company, Inc. (NYSE:TREX) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 64,264 shares of the construction company’s stock after buying an additional 4,240 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Trex were worth $5,320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in shares of Trex by 25.2% during the third quarter. Teacher Retirement System of Texas now owns 24,351 shares of the construction company’s stock worth $1,501,000 after purchasing an additional 4,899 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Trex by 6,100.0% during the third quarter. Larson Financial Group LLC now owns 682 shares of the construction company’s stock worth $42,000 after purchasing an additional 671 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Trex during the third quarter worth about $319,000. Victory Capital Management Inc. increased its position in shares of Trex by 2.9% during the third quarter. Victory Capital Management Inc. now owns 198,578 shares of the construction company’s stock worth $12,238,000 after purchasing an additional 5,548 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its position in shares of Trex by 6.1% during the third quarter. AdvisorShares Investments LLC now owns 62,312 shares of the construction company’s stock worth $3,840,000 after purchasing an additional 3,600 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Trex news, SVP Jacob T. Rudolph sold 16,440 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the transaction, the senior vice president now directly owns 25,746 shares in the company, valued at approximately $2,340,311.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

TREX has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Trex in a research report on Tuesday, May 14th. JPMorgan Chase & Co. lifted their target price on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Barclays raised their price target on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. The Goldman Sachs Group raised their price target on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Stifel Nicolaus raised their price target on Trex from $90.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $89.47.

Trex Price Performance

Shares of TREX stock traded down $0.66 during midday trading on Thursday, reaching $87.27. 94,672 shares of the company traded hands, compared to its average volume of 785,654. The firm’s 50 day simple moving average is $92.59 and its two-hundred day simple moving average is $84.84. Trex Company, Inc. has a 1-year low of $51.03 and a 1-year high of $101.91. The firm has a market cap of $9.49 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 1.94 and a beta of 1.60.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.10. Trex had a return on equity of 35.33% and a net margin of 20.60%. The firm had revenue of $373.64 million during the quarter, compared to the consensus estimate of $367.31 million. During the same period in the previous year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. As a group, research analysts anticipate that Trex Company, Inc. will post 2.25 earnings per share for the current fiscal year.

Trex 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.