Nomura Holdings Inc. Invests $981,000 in Trex Company, Inc. (NYSE:TREX)

Nomura Holdings Inc. bought a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,217 shares of the construction company's stock, valued at approximately $981,000.

Other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. grew its holdings in shares of Trex by 54.5% in the fourth quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock valued at $216,400,000 after purchasing an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Trex during the fourth quarter worth about $110,414,000. Anomaly Capital Management LP boosted its position in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock worth $104,427,000 after acquiring an additional 1,051,888 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Trex by 86.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after buying an additional 939,960 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trex news, Director Melkeya Mcduffie sold 1,420 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now directly owns 1,705 shares in the company, valued at $105,505.40. This represents a 45.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the sale, the senior vice president now owns 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,286 shares of company stock worth $323,003. Corporate insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price on the stock. Jefferies Financial Group lowered their target price on Trex from $81.00 to $71.00 and set a "hold" rating on the stock in a research report on Tuesday, February 25th. UBS Group lowered their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.65.

Trex Price Performance

Shares of Trex stock traded down $0.22 on Friday, hitting $56.96. 898,605 shares of the company's stock traded hands, compared to its average volume of 1,360,500. Trex Company, Inc. has a one year low of $49.01 and a one year high of $88.84. The firm's 50-day moving average price is $57.65 and its two-hundred day moving average price is $65.07. The stock has a market capitalization of $6.11 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.62.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm's quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 earnings per share. On average, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.