Prudential Financial Inc. reduced its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 92.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,595 shares of the company's stock after selling 134,020 shares during the quarter. Prudential Financial Inc.'s holdings in AZEK were worth $530,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Empowered Funds LLC purchased a new position in AZEK during the 4th quarter valued at $27,000. Avalon Trust Co purchased a new stake in shares of AZEK during the fourth quarter valued at $38,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 239 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of AZEK by 94.2% in the fourth 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 last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in AZEK in the 3rd quarter worth about $145,000. Hedge funds and other institutional investors own 97.44% of the company's stock.
AZEK Stock Up 2.4 %
Shares of NYSE:AZEK traded up $1.09 during trading on Friday, reaching $47.35. The stock had a trading volume of 3,105,968 shares, compared to its average volume of 2,148,926. The firm's 50-day simple moving average is $46.40 and its 200 day simple moving average is $47.55. 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 AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company has a market capitalization of $6.80 billion, a P/E ratio of 47.83, a PEG ratio of 1.91 and a beta of 1.86.
AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share 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%. As a group, research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.
Insider Transactions at AZEK
In other news, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction dated 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 owns 883,765 shares in the company, valued at $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.20% of the company's stock.
Wall Street Analyst Weigh In
AZEK has been the subject of several research reports. Baird R W cut shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Robert W. Baird reiterated a "neutral" rating and issued a $53.00 price target (down previously from $58.00) on shares of AZEK in a report on Monday, March 24th. Stephens downgraded AZEK from an "overweight" rating to a "mixed" rating in a report on Monday, March 24th. Barclays decreased their target price on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, William Blair reissued a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $53.40.
Read Our Latest Stock Analysis on AZEK
About AZEK
(
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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