The AZEK Company Inc. (NYSE:AZEK) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in The AZEK Company Inc. (NYSE:AZEK) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,152,986 shares of the company’s stock after purchasing an additional 42,132 shares during the period. Wellington Management Group LLP owned about 8.23% of AZEK worth $464,852,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of AZEK by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock valued at $41,776,000 after acquiring an additional 20,912 shares during the last quarter. Redwood Investments LLC purchased a new stake in AZEK in the 4th quarter worth about $2,893,000. Lecap Asset Management Ltd. purchased a new stake in AZEK in the 4th quarter worth about $1,134,000. Massachusetts Financial Services Co. MA lifted its stake in AZEK by 7.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after acquiring an additional 516,523 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in AZEK by 1.5% in the 4th quarter. Wasatch Advisors LP now owns 2,216,800 shares of the company’s stock worth $84,793,000 after purchasing an additional 31,752 shares during the last quarter. 97.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup upped their target price on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Robert W. Baird lowered their target price on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Barclays raised their price objective on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Benchmark assumed coverage on AZEK in a report on Friday, April 19th. They set a “buy” rating and a $55.00 price target for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.83.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the sale, the chief executive officer now owns 1,070,444 shares in the company, valued at $49,208,310.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.10% of the company’s stock.

AZEK Stock Performance

Shares of AZEK opened at $47.06 on Monday. The firm’s 50 day moving average price is $46.42 and its two-hundred day moving average price is $43.62. The firm has a market cap of $6.95 billion, a P/E ratio of 46.14, a PEG ratio of 1.47 and a beta of 1.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.67 and a current ratio of 2.99. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Friday, June 14th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The company had revenue of $418.41 million for the quarter, compared to analyst estimates of $416.79 million. On average, analysts forecast that The AZEK Company Inc. will post 1.07 EPS for the current fiscal year.

About AZEK

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.