Jennison Associates LLC Has $642,000 Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Jennison Associates LLC lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 97.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,527 shares of the company's stock after selling 460,529 shares during the quarter. Jennison Associates LLC's holdings in AZEK were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Trust Co. increased its position in AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company's stock worth $484,000 after buying an additional 226 shares during the period. GAMMA Investing LLC increased its holdings in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after acquiring an additional 239 shares during the period. Creative Planning lifted its position in AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company's stock valued at $327,000 after purchasing an additional 430 shares during the last quarter. Covestor Ltd boosted its stake in AZEK by 18.8% during the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company's stock valued at $129,000 after purchasing an additional 436 shares during the period. Finally, Blue Trust Inc. grew its position in AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company's stock worth $44,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 97.44% of the company's stock.

Insider Activity

In other news, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,709 shares of company stock worth $3,060,151 in the last three months. 3.20% of the stock is owned by insiders.

AZEK Stock Up 0.4 %

AZEK stock traded up $0.22 during trading hours on Tuesday, hitting $50.19. The company had a trading volume of 1,158,466 shares, compared to its average volume of 1,612,499. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The firm has a market capitalization of $7.18 billion, a P/E ratio of 50.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.94. The firm's fifty day moving average is $50.17 and its 200-day moving average is $46.49.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping 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%. On average, research analysts forecast that The AZEK Company Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

AZEK has been the subject of several analyst reports. Benchmark reiterated a "buy" rating and set a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Barclays lifted their target price on AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. BMO Capital Markets upped their price target on shares of AZEK from $52.00 to $54.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Truist Financial lifted their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada increased their target price on shares of AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, AZEK presently has a consensus rating of "Moderate Buy" and an average target price of $54.85.

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.