The AZEK Company Inc. (NYSE:AZEK) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1,047.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,364 shares of the company's stock after purchasing an additional 123,567 shares during the quarter. Principal Financial Group Inc. owned approximately 0.09% of AZEK worth $6,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. WCM Investment Management LLC grew its holdings in shares of AZEK by 2.2% during the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company's stock worth $25,232,000 after buying an additional 11,770 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of AZEK by 8.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company's stock worth $31,415,000 after purchasing an additional 50,230 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AZEK by 105.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company's stock worth $2,845,000 after acquiring an additional 31,193 shares during the last quarter. State Street Corp lifted its stake in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after purchasing an additional 45,774 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of AZEK by 18.5% in the 3rd quarter. Algert Global LLC now owns 119,453 shares of the company's stock valued at $5,590,000 after buying an additional 18,690 shares during the period. Hedge funds and other institutional investors own 97.44% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on AZEK. Citigroup raised AZEK from a "neutral" rating to a "buy" rating and lifted their target price for the company from $51.00 to $60.00 in a research report on Monday, January 6th. BMO Capital Markets increased their target price on shares of AZEK from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Benchmark reiterated a "buy" rating and issued a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Finally, Royal Bank of Canada lifted their target price on AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.85.

AZEK Stock Performance

AZEK traded down $0.96 during trading on Thursday, hitting $44.78. The stock had a trading volume of 3,094,628 shares, compared to its average volume of 1,653,024. The firm has a market capitalization of $6.43 billion, a P/E ratio of 45.23, a PEG ratio of 1.91 and a beta of 1.95. 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 AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company's 50-day moving average price is $48.65 and its 200 day moving average price is $47.18.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Transactions at AZEK

In other news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The shares were 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 directly owns 16,632 shares in the company, valued at $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,709 shares of company stock valued at $3,060,151 in the last 90 days. 3.20% of the stock is currently owned by insiders.

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.