Massachusetts Financial Services Co. MA reduced its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,931,498 shares of the company's stock after selling 26,725 shares during the period. Massachusetts Financial Services Co. MA owned approximately 4.15% of AZEK worth $281,568,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in AZEK during the 4th quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after purchasing an additional 592 shares during the period. Avalon Trust Co purchased a new position in AZEK during the 4th quarter worth $38,000. GAMMA Investing LLC boosted its holdings in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of AZEK during the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 97.44% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Raymond James set a $51.50 target price on shares of AZEK in a report on Tuesday, March 25th. Stephens lowered AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. BMO Capital Markets upped their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. Finally, Barclays decreased their target price on shares of AZEK from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $53.40.
Check Out Our Latest Stock Report on AZEK
Insiders Place Their Bets
In other news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the transaction, the chief executive officer now owns 883,765 shares of the company's stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is owned by corporate insiders.
AZEK Stock Up 9.3 %
Shares of AZEK traded up $4.04 during trading on Wednesday, reaching $47.43. The company's stock had a trading volume of 13,752,004 shares, compared to its average volume of 2,119,359. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 47.91, a P/E/G ratio of 1.91 and a beta of 1.86. The company has a fifty day moving average of $46.55 and a two-hundred day moving average of $47.53.
AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.
AZEK Company Profile
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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.
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