Masterton Capital Management LP Invests $4.01 Million in The AZEK Company Inc. (NYSE:AZEK)

Masterton Capital Management LP bought a new position in The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 84,493 shares of the company’s stock, valued at approximately $4,011,000. AZEK makes up about 2.3% of Masterton Capital Management LP’s investment portfolio, making the stock its 20th largest holding. Masterton Capital Management LP owned 0.06% of AZEK at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC acquired a new position in AZEK during the 4th quarter worth approximately $27,000. FIL Ltd purchased a new stake in AZEK in the fourth quarter worth $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. Avalon Trust Co purchased a new position in AZEK in the 4th quarter valued at approximately $38,000. Finally, GAMMA Investing LLC raised its stake in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AZEK. Raymond James set a $51.50 price objective on AZEK in a report on Tuesday, March 25th. Stephens cut shares of AZEK from an “overweight” rating to a “mixed” rating in a research report on Monday, March 24th. Robert W. Baird restated a “neutral” rating and issued a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research report on Monday, March 24th. Citigroup restated a “neutral” rating and issued a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.53.

Insider Buying and Selling

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

AZEK Price Performance

NYSE:AZEK opened at $49.20 on Tuesday. The company has a fifty day moving average price of $45.82 and a 200 day moving average price of $47.75. The stock has a market cap of $7.07 billion, a P/E ratio of 49.70, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

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

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.