FIL Ltd Makes New $28,000 Investment in The AZEK Company Inc. (NYSE:AZEK)

FIL Ltd bought a new stake in The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 600 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its holdings in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Norges Bank acquired a new position in shares of AZEK during the 4th quarter worth $94,987,000. Arrowstreet Capital Limited Partnership boosted its position in shares of AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after buying an additional 823,588 shares in the last quarter. Alliancebernstein L.P. grew its stake in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after acquiring an additional 429,574 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in AZEK during the 4th quarter valued at about $19,436,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AZEK has been the topic of several research reports. BMO Capital Markets increased their price target on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Citigroup reissued a “neutral” rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research note on Monday, March 24th. Finally, Stephens cut AZEK from an “overweight” rating to a “mixed” rating in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, AZEK presently has a consensus rating of “Hold” and an average target price of $53.40.

AZEK Stock Performance

Shares of AZEK stock opened at $47.33 on Tuesday. The firm has a market cap of $6.80 billion, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The firm’s 50-day simple moving average is $46.32 and its 200-day simple moving average is $47.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

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.