Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 480,707 shares of the company's stock after selling 32,018 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.34% of AZEK worth $22,819,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of AZEK by 1.9% in 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 in the last quarter. JPMorgan Chase & Co. lifted its position in AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock worth $93,564,000 after purchasing an additional 90,206 shares during the period. Stifel Financial Corp boosted its stake in AZEK by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company's stock valued at $1,052,000 after purchasing an additional 4,454 shares in the last quarter. Blue Trust Inc. increased its position in shares of AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after purchasing an additional 877 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AZEK by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after buying an additional 24,249 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Barclays decreased their target price on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. The Goldman Sachs Group increased their target price on shares of AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. BMO Capital Markets upped their price target on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Finally, Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of "Hold" and an average target price of $53.40.
Check Out Our Latest Report on AZEK
AZEK Stock Up 1.2 %
NYSE:AZEK traded up $0.57 on Friday, hitting $46.83. 1,114,170 shares of the company's stock traded hands, compared to its average volume of 2,132,962. The firm has a 50-day moving average price of $46.46 and a 200-day moving average price of $47.53. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.73 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91.
AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.
Insider Activity at AZEK
In related news, CEO Jesse G. Singh sold 20,387 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now owns 883,765 shares of the company's stock, valued at approximately $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company's stock.
AZEK Profile
(
Free Report)
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.
Featured Articles
Before you consider AZEK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AZEK wasn't on the list.
While AZEK currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
