29,300 Shares in The AZEK Company Inc. (NYSE:AZEK) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 29,300 shares of the company's stock, valued at approximately $1,391,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in AZEK by 2.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,145,302 shares of the company's stock worth $53,600,000 after purchasing an additional 28,080 shares during the last quarter. Bank of Montreal Can grew its position in shares of AZEK by 22.8% during the third quarter. Bank of Montreal Can now owns 196,361 shares of the company's stock worth $9,184,000 after buying an additional 36,433 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of AZEK by 38.7% in the third quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company's stock worth $33,676,000 after buying an additional 200,746 shares during the last quarter. FMR LLC increased its stake in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock worth $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in AZEK in the third quarter valued at $801,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 19,613 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the sale, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 55,000 shares of company stock valued at $2,518,624 over the last three months. Company insiders own 3.20% of the company's stock.

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AZEK Price Performance

NYSE:AZEK traded down $0.88 during mid-day trading on Thursday, reaching $48.25. 5,078,257 shares of the stock were exchanged, compared to its average volume of 1,998,640. 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 business has a fifty day moving average price of $47.26 and a 200 day moving average price of $47.54. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The firm has a market capitalization of $6.93 billion, a PE ratio of 48.74, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS 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%. Research analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stephens lowered shares of AZEK from an "overweight" rating to a "mixed" rating in a report on Monday, March 24th. William Blair reaffirmed a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. BMO Capital Markets increased their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, March 24th. Finally, Citigroup reaffirmed a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, AZEK currently has a consensus rating of "Hold" and a consensus target price of $54.32.

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.