Legal & General Group Plc Reduces Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Legal & General Group Plc trimmed its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,650 shares of the company's stock after selling 17,307 shares during the quarter. Legal & General Group Plc owned 0.11% of AZEK worth $7,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AZEK. Empowered Funds LLC acquired a new stake in shares of AZEK during the fourth quarter worth approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co bought a new stake in AZEK during the 4th quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after acquiring an additional 239 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock worth $85,000 after purchasing an additional 877 shares during the period. 97.44% of the stock is currently owned by institutional investors.

AZEK Trading Up 1.8 %

Shares of AZEK traded up $0.86 during mid-day trading on Wednesday, reaching $48.16. 2,403,852 shares of the company were exchanged, compared to its average volume of 3,241,968. The business has a 50 day simple moving average of $45.91 and a two-hundred day simple moving average of $47.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a market capitalization of $6.92 billion, a PE ratio of 48.65, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping 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%. On average, analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James set a $51.50 price objective on shares of AZEK in a report on Tuesday, March 25th. William Blair reiterated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. BMO Capital Markets boosted their target price on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research report on Monday, March 24th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. Finally, Citigroup reissued a "neutral" rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.53.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares of the company's stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

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.