Gradient Investments LLC Acquires 366,352 Shares of The AZEK Company Inc. (NYSE:AZEK)

Gradient Investments LLC boosted its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 834.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,233 shares of the company's stock after purchasing an additional 366,352 shares during the period. Gradient Investments LLC owned about 0.29% of AZEK worth $19,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in AZEK by 8.1% in the second quarter. Envestnet Asset Management Inc. now owns 203,302 shares of the company's stock valued at $8,565,000 after purchasing an additional 15,317 shares in the last quarter. Amalgamated Bank boosted its stake in shares of AZEK by 19.2% during the 2nd quarter. Amalgamated Bank now owns 9,279 shares of the company's stock worth $391,000 after buying an additional 1,492 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of AZEK by 15.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,169 shares of the company's stock valued at $260,000 after acquiring an additional 803 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of AZEK in the second quarter valued at about $236,000. Finally, Bank of Montreal Can raised its holdings in AZEK by 262.2% during the second quarter. Bank of Montreal Can now owns 159,928 shares of the company's stock worth $6,738,000 after acquiring an additional 115,775 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Insider Activity

In other news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 19,613 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.98, for a total value of $882,192.74. Following the sale, the chief executive officer now directly owns 904,152 shares in the company, valued at $40,668,756.96. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,322 shares of company stock valued at $2,039,170. 3.20% of the stock is owned by company insiders.

AZEK Stock Performance

AZEK traded down $0.52 during trading on Friday, hitting $50.57. The stock had a trading volume of 1,001,509 shares, compared to its average volume of 1,188,596. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 48.63, a P/E/G ratio of 2.28 and a beta of 1.94. The company has a 50 day moving average price of $50.10 and a 200-day moving average price of $45.89. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Benchmark restated a "buy" rating and issued a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Robert W. Baird increased their price target on shares of AZEK from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, Citigroup raised shares of AZEK from a "neutral" rating to a "buy" rating and upped their target price for the company from $51.00 to $60.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, AZEK presently has an average rating of "Moderate Buy" and a consensus price target of $53.73.

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.