Fmr LLC Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

FMR LLC boosted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 80.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,311,577 shares of the company's stock after acquiring an additional 5,499,986 shares during the period. FMR LLC owned about 8.61% of AZEK worth $584,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Remove Ads

Insider Activity at AZEK

In other news, CEO Jesse G. Singh sold 20,387 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by corporate insiders.

AZEK Stock Up 0.2 %

AZEK stock traded up $0.09 during mid-day trading on Monday, reaching $47.52. 374,256 shares of the company's stock were exchanged, compared to its average volume of 2,142,109. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market cap of $6.83 billion, a P/E ratio of 48.00, a P/E/G ratio of 1.91 and a beta of 1.86. The company has a fifty day moving average of $46.40 and a 200-day moving average of $47.55.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AZEK. Stephens cut AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Baird R W cut AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Citigroup restated a "neutral" rating and set a $51.50 price target (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.40.

AZEK 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.