Rockefeller Capital Management L.P. Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Rockefeller Capital Management L.P. grew its position in The AZEK Company Inc. (NYSE:AZEK) by 22.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 426,785 shares of the company’s stock after buying an additional 77,040 shares during the period. Rockefeller Capital Management L.P.’s holdings in AZEK were worth $19,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock valued at $99,175,000 after acquiring an additional 118,351 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of AZEK in the 2nd quarter valued at approximately $86,719,000. Point72 Asset Management L.P. lifted its holdings in shares of AZEK by 14.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,377,883 shares of the company’s stock worth $58,050,000 after acquiring an additional 175,841 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of AZEK by 25.7% during the 2nd quarter. Millennium Management LLC now owns 1,298,920 shares of the company’s stock worth $54,724,000 after purchasing an additional 265,827 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AZEK. JPMorgan Chase & Co. upped their price target on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and set a $47.00 target price on the stock. in a research note on Friday, October 4th. Benchmark restated a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Truist Financial boosted their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, DA Davidson raised their price objective on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.82.

AZEK Stock Up 1.6 %

Shares of NYSE AZEK opened at $53.12 on Monday. The AZEK Company Inc. has a 1 year low of $33.14 and a 1 year high of $54.16. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 51.08, a price-to-earnings-growth ratio of 2.34 and a beta of 1.88. 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 business has a 50-day moving average of $46.12 and a two-hundred day moving average of $44.54.

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.