The AZEK Company Inc. (NYSE:AZEK) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in The AZEK Company Inc. (NYSE:AZEKFree Report) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 666,369 shares of the company’s stock after selling 43,236 shares during the quarter. The Manufacturers Life Insurance Company owned 0.45% of AZEK worth $25,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in AZEK by 45.9% in the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after acquiring an additional 229 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its holdings in AZEK by 4.1% in the third quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company’s stock valued at $388,000 after acquiring an additional 515 shares during the last quarter. First Dallas Securities Inc. boosted its holdings in AZEK by 5.8% in the third quarter. First Dallas Securities Inc. now owns 10,050 shares of the company’s stock valued at $299,000 after acquiring an additional 550 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after acquiring an additional 570 shares during the last quarter. Finally, Mariner LLC boosted its holdings in AZEK by 4.4% in the third quarter. Mariner LLC now owns 16,398 shares of the company’s stock valued at $488,000 after acquiring an additional 687 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of recent research reports. Benchmark initiated coverage on AZEK in a research note on Friday, April 19th. They set a “buy” rating and a $55.00 price objective on the stock. Robert W. Baird reduced their price objective on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Barclays boosted their price objective on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Citigroup boosted their price objective on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Read Our Latest Research Report on AZEK

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total transaction of $627,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,083,444 shares of the company’s stock, valued at $52,330,345.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

AZEK Stock Down 0.4 %

Shares of AZEK stock opened at $44.42 on Friday. The firm has a market cap of $6.56 billion, a P/E ratio of 56.23, a P/E/G ratio of 1.42 and a beta of 1.91. The business has a 50-day moving average price of $46.79 and a 200 day moving average price of $42.92. The AZEK Company Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43.

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

Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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