JPMorgan Chase & Co. Purchases 90,206 Shares of The AZEK Company Inc. (NYSE:AZEK)

JPMorgan Chase & Co. boosted its holdings in The AZEK Company Inc. (NYSE:AZEK) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,999,232 shares of the company’s stock after acquiring an additional 90,206 shares during the quarter. JPMorgan Chase & Co. owned 1.40% of AZEK worth $93,564,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AZEK. Tidal Investments LLC boosted its stake in shares of AZEK by 69.8% in the 3rd quarter. Tidal Investments LLC now owns 10,587 shares of the company’s stock worth $495,000 after buying an additional 4,352 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in AZEK by 97.8% during the third quarter. Sanctuary Advisors LLC now owns 11,229 shares of the company’s stock valued at $572,000 after buying an additional 5,553 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of AZEK by 11.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 57,701 shares of the company’s stock worth $2,700,000 after purchasing an additional 5,815 shares in the last quarter. Geode Capital Management LLC raised its holdings in AZEK by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the period. Finally, M&T Bank Corp lifted its position in AZEK by 140.5% during the third quarter. M&T Bank Corp now owns 14,473 shares of the company’s stock valued at $677,000 after purchasing an additional 8,456 shares in the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Trading Down 0.8 %

AZEK stock opened at $47.09 on Friday. The company has a market capitalization of $6.73 billion, a PE ratio of 45.28, a P/E/G ratio of 2.40 and a beta of 1.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The AZEK Company Inc. has a 12 month low of $35.38 and a 12 month high of $54.91. The firm’s 50-day moving average is $49.16 and its 200 day moving average is $45.30.

Insider Activity

In other news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the sale, the chief executive officer now owns 923,765 shares of the company’s stock, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

AZEK has been the topic of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. The Goldman Sachs Group raised their target price on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Barclays boosted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, BMO Capital Markets raised their target price on shares of AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.67.

AZEK 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.