JPMorgan Chase & Co. Acquires 90,206 Shares of The AZEK Company Inc. (NYSE:AZEK)

JPMorgan Chase & Co. increased its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,999,232 shares of the company's stock after buying an additional 90,206 shares during the period. JPMorgan Chase & Co. owned 1.40% of AZEK worth $93,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of AZEK by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 481,587 shares of the company's stock valued at $20,289,000 after buying an additional 24,542 shares in the last quarter. Versor Investments LP purchased a new position in shares of AZEK during the second quarter valued at approximately $278,000. Rhumbline Advisers grew its holdings in AZEK by 17.9% during the second quarter. Rhumbline Advisers now owns 158,596 shares of the company's stock worth $6,682,000 after buying an additional 24,055 shares in the last quarter. Victory Capital Management Inc. raised its position in AZEK by 17.5% in the 2nd quarter. Victory Capital Management Inc. now owns 862,109 shares of the company's stock valued at $36,321,000 after buying an additional 128,120 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in AZEK by 88.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 439,260 shares of the company's stock valued at $18,506,000 after acquiring an additional 206,617 shares in the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AZEK has been the subject of several recent analyst reports. Robert W. Baird upped their target price on shares of AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. The Goldman Sachs Group lifted their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Truist Financial upped their target price on AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Barclays lifted their price target on AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Finally, DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.67.

AZEK Stock Performance

AZEK traded up $0.74 on Friday, hitting $47.83. The company's stock had a trading volume of 863,084 shares, compared to its average volume of 1,005,342. The AZEK Company Inc. has a 12 month low of $35.38 and a 12 month high of $54.91. The firm has a market cap of $6.84 billion, a P/E ratio of 45.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The company's 50 day simple moving average is $49.26 and its 200-day simple moving average is $45.31.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the transaction, the chief executive officer now directly owns 923,765 shares of the company's stock, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

About AZEK

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.