Dai ichi Life Insurance Company Ltd Buys Shares of 28,200 Trex Company, Inc. (NYSE:TREX)

Dai ichi Life Insurance Company Ltd bought a new position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,200 shares of the construction company's stock, valued at approximately $1,878,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harrington Investments INC boosted its position in shares of Trex by 1.4% during the 2nd quarter. Harrington Investments INC now owns 9,807 shares of the construction company's stock worth $727,000 after acquiring an additional 140 shares in the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Trex by 2.6% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 7,055 shares of the construction company's stock worth $523,000 after acquiring an additional 176 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Trex by 8.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company's stock valued at $152,000 after purchasing an additional 184 shares during the last quarter. Values First Advisors Inc. lifted its holdings in shares of Trex by 3.6% in the 2nd quarter. Values First Advisors Inc. now owns 6,700 shares of the construction company's stock valued at $497,000 after purchasing an additional 230 shares during the last quarter. Finally, ABLE Financial Group LLC lifted its holdings in shares of Trex by 3.6% in the 2nd quarter. ABLE Financial Group LLC now owns 6,998 shares of the construction company's stock valued at $519,000 after purchasing an additional 240 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on TREX. Robert W. Baird boosted their target price on Trex from $70.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. DA Davidson boosted their target price on Trex from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, October 29th. UBS Group reduced their target price on Trex from $104.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group reduced their price objective on Trex from $77.00 to $73.00 and set a "hold" rating for the company in a research note on Wednesday, October 9th. Finally, Benchmark reduced their price objective on Trex from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $79.94.

Trex Price Performance

Shares of TREX stock traded down $0.70 during trading hours on Thursday, reaching $74.43. 600,630 shares of the company's stock were exchanged, compared to its average volume of 1,021,183. The company has a market cap of $7.97 billion, a P/E ratio of 33.99, a price-to-earnings-growth ratio of 3.51 and a beta of 1.49. The company's 50 day moving average is $68.43 and its two-hundred day moving average is $72.99. Trex Company, Inc. has a 1 year low of $58.68 and a 1 year high of $101.91.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The construction company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business had revenue of $233.72 million for the quarter, compared to analysts' expectations of $225.42 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company's revenue was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, analysts predict that Trex Company, Inc. will post 2.05 EPS 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.