Bessemer Group Inc. Raises Position in The AZEK Company Inc. (NYSE:AZEK)

Bessemer Group Inc. raised its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 278,533 shares of the company's stock after acquiring an additional 8,992 shares during the quarter. Bessemer Group Inc. owned about 0.19% of AZEK worth $13,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of AZEK. State Street Corp increased its stake in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. JPMorgan Chase & Co. increased its position in AZEK by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock worth $93,564,000 after buying an additional 90,206 shares during the period. Stifel Financial Corp lifted its holdings in shares of AZEK by 24.7% during the third quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock worth $1,052,000 after buying an additional 4,454 shares in the last quarter. Blue Trust Inc. boosted its position in shares of AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after acquiring an additional 877 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of AZEK by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock valued at $55,519,000 after acquiring an additional 24,249 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.

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AZEK Trading Down 1.2 %

Shares of NYSE:AZEK traded down $0.59 during midday trading on Tuesday, reaching $46.66. The company's stock had a trading volume of 2,283,747 shares, compared to its average volume of 3,254,918. The firm has a 50 day moving average price of $46.32 and a two-hundred day moving average price of $47.56. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 47.14, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AZEK. Stephens cut shares of AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. William Blair reissued a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Robert W. Baird reaffirmed a "neutral" rating and issued a $53.00 price objective (down from $58.00) on shares of AZEK in a report on Monday, March 24th. Finally, Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.40.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company's stock.

AZEK Company Profile

The AZEK Company Inc engages in the design, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, such as decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brands.