Wellington Management Group LLP Raises Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Wellington Management Group LLP grew its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,224,410 shares of the company's stock after purchasing an additional 3,595,863 shares during the period. Wellington Management Group LLP owned about 9.83% of AZEK worth $665,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AZEK. ORG Wealth Partners LLC purchased a new position in AZEK during the 3rd quarter worth $31,000. Farther Finance Advisors LLC grew its position in shares of AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company's stock worth $35,000 after buying an additional 487 shares in the last quarter. Paladin Wealth LLC purchased a new position in shares of AZEK during the third quarter valued at $39,000. Blue Trust Inc. raised its holdings in shares of AZEK by 106.4% in the third quarter. Blue Trust Inc. now owns 931 shares of the company's stock valued at $44,000 after acquiring an additional 480 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AZEK in the third quarter valued at about $59,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AZEK shares. Royal Bank of Canada boosted their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 20th. DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Benchmark reaffirmed a "buy" rating and set a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. Truist Financial boosted their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, Robert W. Baird lifted their price objective on shares of AZEK from $52.00 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, AZEK has a consensus rating of "Moderate Buy" and a consensus target price of $49.82.

AZEK Price Performance

AZEK stock traded up $0.73 during mid-day trading on Friday, reaching $54.21. The company's stock had a trading volume of 1,437,343 shares, compared to its average volume of 1,456,239. The company has a current ratio of 2.17, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $46.85 and its two-hundred day moving average is $44.77. The AZEK Company Inc. has a fifty-two week low of $34.02 and a fifty-two week high of $54.69. The stock has a market cap of $7.75 billion, a PE ratio of 52.13, a P/E/G ratio of 2.36 and a beta of 1.92.

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.