Trex Company, Inc. (NYSE:TREX) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in shares of Trex Company, Inc. (NYSE:TREX) by 2.7% during the fourth quarter, Holdings Channel reports. The fund owned 23,215 shares of the construction company’s stock after selling 632 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Trex were worth $1,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TREX. Pacer Advisors Inc. boosted its holdings in shares of Trex by 0.9% during the fourth quarter. Pacer Advisors Inc. now owns 15,970 shares of the construction company’s stock worth $1,102,000 after purchasing an additional 148 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Trex by 8.8% during the third quarter. First Horizon Advisors Inc. now owns 2,282 shares of the construction company’s stock worth $152,000 after buying an additional 184 shares during the period. Ballentine Partners LLC boosted its stake in Trex by 6.8% in the 4th quarter. Ballentine Partners LLC now owns 3,352 shares of the construction company’s stock worth $231,000 after buying an additional 213 shares during the last quarter. UMB Bank n.a. grew its holdings in Trex by 33.4% in the 4th quarter. UMB Bank n.a. now owns 870 shares of the construction company’s stock valued at $60,000 after buying an additional 218 shares during the period. Finally, American Trust increased its stake in shares of Trex by 7.9% during the 3rd quarter. American Trust now owns 3,367 shares of the construction company’s stock valued at $224,000 after acquiring an additional 246 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TREX. Jefferies Financial Group lowered their target price on shares of Trex from $77.00 to $73.00 and set a “hold” rating for the company in a report on Wednesday, October 9th. StockNews.com cut shares of Trex from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Citigroup cut their target price on Trex from $84.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Barclays lowered their price target on Trex from $68.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, BMO Capital Markets raised their price objective on Trex from $67.00 to $72.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Trex currently has an average rating of “Hold” and a consensus target price of $79.81.

Trex Stock Up 0.8 %

TREX opened at $72.71 on Thursday. The firm’s 50 day moving average is $72.50 and its 200-day moving average is $70.07. Trex Company, Inc. has a 52-week low of $58.68 and a 52-week high of $101.91. The firm has a market capitalization of $7.79 billion, a P/E ratio of 33.20, a P/E/G ratio of 3.06 and a beta of 1.50.

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