Envestnet Asset Management Inc. Has $9.01 Million Stake in The AZEK Company Inc. (NYSE:AZEK)

Envestnet Asset Management Inc. reduced its holdings in The AZEK Company Inc. (NYSE:AZEK) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,763 shares of the company’s stock after selling 6,588 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of AZEK worth $9,008,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Empowered Funds LLC acquired a new stake in shares of AZEK in the 4th quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares during the period. Avalon Trust Co bought a new position in shares of AZEK in the 4th quarter valued at about $38,000. GAMMA Investing LLC grew its position in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after buying an additional 877 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

Insider Transactions at AZEK

In related 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 transaction of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

AZEK Stock Performance

Shares of AZEK stock opened at $46.93 on Friday. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a market capitalization of $6.74 billion, a P/E ratio of 47.41, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a 50 day moving average price of $46.03 and a two-hundred day moving average price of $47.55.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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%. Analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays dropped their target price on shares of AZEK from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Raymond James set a $51.50 target price on AZEK in a research report on Tuesday, March 25th. Citigroup reiterated a “neutral” rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. BMO Capital Markets increased their price target on AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a report on Monday, March 24th. Finally, William Blair restated a “market perform” rating on shares of AZEK in a 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.53.

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.