Wellington Management Group LLP Has $631.97 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Wellington Management Group LLP trimmed its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,313,032 shares of the company's stock after selling 911,378 shares during the period. Wellington Management Group LLP owned about 9.27% of AZEK worth $631,970,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company's stock worth $92,903,000 after purchasing an additional 823,588 shares during the period. Norges Bank acquired a new stake in shares of AZEK in the fourth quarter worth $94,987,000. Loomis Sayles & Co. L P grew its holdings in shares of AZEK by 4.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,281,538 shares of the company's stock valued at $60,834,000 after buying an additional 58,751 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AZEK by 623.2% during the fourth 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 period. Finally, EFG Asset Management North America Corp. raised its position in AZEK by 26.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 47,136 shares of the company's stock valued at $2,238,000 after buying an additional 9,772 shares during the period. Institutional investors and hedge funds own 97.44% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have weighed in on AZEK. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. The Goldman Sachs Group increased their target price on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Robert W. Baird restated a "neutral" rating and set a $53.00 price target (down from $58.00) on shares of AZEK in a report on Monday, March 24th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $54.32.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is owned by insiders.

AZEK Stock Performance

Shares of AZEK stock traded down $1.95 during trading on Friday, reaching $46.25. The company had a trading volume of 5,512,872 shares, compared to its average volume of 2,017,435. The company has a market capitalization of $6.65 billion, a PE ratio of 46.72, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The firm's 50 day simple moving average is $47.18 and its two-hundred day simple moving average is $47.58. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

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

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.