Sumitomo Life Insurance Co. Buys 500 Shares of Trex Company, Inc. (NYSE:TREX)

Sumitomo Life Insurance Co. lifted its position in Trex Company, Inc. (NYSE:TREX) by 2.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,847 shares of the construction company’s stock after acquiring an additional 500 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Trex were worth $1,588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new stake in Trex in the 1st quarter worth approximately $26,000. V Square Quantitative Management LLC purchased a new position in shares of Trex in the fourth quarter valued at $25,000. Sunbelt Securities Inc. raised its stake in Trex by 1,744.4% during the first quarter. Sunbelt Securities Inc. now owns 332 shares of the construction company’s stock valued at $33,000 after purchasing an additional 314 shares in the last quarter. Rise Advisors LLC lifted its position in Trex by 305.0% during the first quarter. Rise Advisors LLC now owns 405 shares of the construction company’s stock valued at $40,000 after purchasing an additional 305 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in shares of Trex in the 2nd quarter worth $31,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Trex Stock Performance

NYSE TREX opened at $64.73 on Thursday. The company has a market cap of $7.04 billion, a PE ratio of 26.75, a P/E/G ratio of 2.21 and a beta of 1.50. The firm’s 50 day moving average price is $64.76 and its 200-day moving average price is $77.70. Trex Company, Inc. has a 52-week low of $53.59 and a 52-week high of $101.91.

Trex (NYSE:TREX) last posted its earnings results on Tuesday, August 6th. The construction company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Trex had a return on equity of 33.53% and a net margin of 21.07%. The company had revenue of $376.47 million during the quarter, compared to analyst estimates of $387.87 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. Trex’s revenue was up 5.6% on a year-over-year basis. On average, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Benchmark decreased their target price on shares of Trex from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stephens downgraded shares of Trex from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $115.00 to $72.00 in a report on Wednesday, August 7th. StockNews.com upgraded Trex from a “sell” rating to a “hold” rating in a research note on Thursday, September 19th. Stifel Nicolaus decreased their target price on Trex from $110.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays reduced their price target on shares of Trex from $94.00 to $81.00 and set an “underweight” rating on the stock in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.31.

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.