Massachusetts Financial Services Co. MA Acquires 1,517 Shares of The AZEK Company Inc. (NYSE:AZEK)

Massachusetts Financial Services Co. MA increased its position in shares of The AZEK Company Inc. (NYSE:AZEKFree Report) by 0.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,116,170 shares of the company’s stock after purchasing an additional 1,517 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 4.76% of AZEK worth $211,635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in AZEK by 6.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 9,575 shares of the company’s stock worth $225,000 after purchasing an additional 600 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in AZEK by 6.2% during the second quarter. Principal Financial Group Inc. now owns 11,739 shares of the company’s stock worth $197,000 after purchasing an additional 682 shares during the last quarter. Snider Financial Group boosted its holdings in AZEK by 7.7% during the first quarter. Snider Financial Group now owns 10,655 shares of the company’s stock worth $265,000 after purchasing an additional 765 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in AZEK by 1.5% during the third quarter. Exchange Traded Concepts LLC now owns 71,396 shares of the company’s stock worth $2,123,000 after purchasing an additional 1,029 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in AZEK by 3.2% during the second quarter. Arizona State Retirement System now owns 33,870 shares of the company’s stock worth $1,026,000 after purchasing an additional 1,047 shares during the last quarter.

AZEK Price Performance

AZEK stock opened at $39.55 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.99 and a quick ratio of 1.85. The AZEK Company Inc. has a one year low of $21.34 and a one year high of $40.66. The stock has a market cap of $5.84 billion, a PE ratio of 87.89 and a beta of 1.87. The firm has a 50 day simple moving average of $37.09 and a two-hundred day simple moving average of $32.66.

AZEK (NYSE:AZEKGet Free Report) last released its quarterly earnings results on Tuesday, November 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. AZEK had a net margin of 4.96% and a return on equity of 7.60%. The business had revenue of $388.81 million during the quarter, compared to analysts’ expectations of $368.68 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, analysts predict that The AZEK Company Inc. will post 0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $37.23, for a total value of $483,990.00. Following the completion of the transaction, the chief executive officer now owns 1,227,444 shares of the company’s stock, valued at approximately $45,697,740.12. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Jonathan Skelly sold 9,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $38.75, for a total transaction of $348,750.00. Following the completion of the sale, the insider now directly owns 190,784 shares in the company, valued at approximately $7,392,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $37.23, for a total transaction of $483,990.00. Following the sale, the chief executive officer now owns 1,227,444 shares of the company’s stock, valued at $45,697,740.12. The disclosure for this sale can be found here. Insiders sold a total of 35,000 shares of company stock valued at $1,285,010 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AZEK. Truist Financial lifted their price objective on shares of AZEK from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 29th. Stephens reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of AZEK in a research report on Thursday, October 12th. B. Riley lowered their price objective on shares of AZEK from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 29th. Stifel Nicolaus lifted their price objective on shares of AZEK from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Finally, Barclays lowered their price target on shares of AZEK from $41.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.21.

Check Out Our Latest Research Report on AZEK

About AZEK

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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