Charles Schwab Investment Management Inc. Buys 24,249 Shares of The AZEK Company Inc. (NYSE:AZEK)

Charles Schwab Investment Management Inc. increased its stake in The AZEK Company Inc. (NYSE:AZEK) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,169,551 shares of the company’s stock after purchasing an additional 24,249 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.82% of AZEK worth $55,519,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AZEK. Wellington Management Group LLP increased its stake in AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares in the last quarter. FMR LLC increased its stake in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of AZEK by 73.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after purchasing an additional 425,609 shares in the last quarter. Gradient Investments LLC grew its position in shares of AZEK by 834.9% during the fourth quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after purchasing an additional 366,352 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of AZEK by 38.7% during the third quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after purchasing an additional 200,746 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the transaction, the chief executive officer now directly owns 923,765 shares in the company, valued at $49,255,149.80. This trade represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the transaction, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,709 shares of company stock valued at $3,675,601 in the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial lifted their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. BMO Capital Markets upped their price target on AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.85.

AZEK Stock Down 2.5 %

AZEK stock opened at $39.58 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm’s 50-day simple moving average is $48.11 and its 200 day simple moving average is $47.20. The stock has a market cap of $5.69 billion, a PE ratio of 39.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS 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.