The AZEK Company Inc. (NYSE:AZEK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 518,822 shares of the company’s stock after selling 4,039 shares during the period. The Manufacturers Life Insurance Company owned 0.36% of AZEK worth $21,858,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in AZEK in the first quarter valued at $11,683,000. Vanguard Group Inc. boosted its stake in AZEK by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after acquiring an additional 413,297 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in AZEK by 180.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company’s stock valued at $1,856,000 after acquiring an additional 23,746 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in AZEK by 26.3% in the first quarter. Congress Asset Management Co. MA now owns 237,326 shares of the company’s stock valued at $11,919,000 after acquiring an additional 49,460 shares in the last quarter. Finally, Duality Advisers LP acquired a new position in AZEK in the first quarter valued at $1,357,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at approximately $42,770,537. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

AZEK Stock Down 0.2 %

AZEK stock opened at $46.71 on Wednesday. The company’s 50 day simple moving average is $42.89 and its 200-day simple moving average is $44.91. The firm has a market capitalization of $6.80 billion, a PE ratio of 45.79, a P/E/G ratio of 1.43 and a beta of 1.87. The AZEK Company Inc. has a 12 month low of $25.03 and a 12 month high of $50.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

AZEK declared that its Board of Directors has approved a share buyback plan on Monday, June 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AZEK shares. UBS Group decreased their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays reduced their target price on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Loop Capital reduced their target price on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus cut their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, DA Davidson cut shares of AZEK from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $44.00 in a report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.24.

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.