Sterling Capital Management LLC Acquires 732 Shares of The AZEK Company Inc. (NYSE:AZEK)

Sterling Capital Management LLC lifted its stake in The AZEK Company Inc. (NYSE:AZEK) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,194 shares of the company’s stock after purchasing an additional 732 shares during the period. Sterling Capital Management LLC’s holdings in AZEK were worth $199,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AZEK. Empowered Funds LLC bought a new position in AZEK in the 4th quarter worth about $27,000. FIL Ltd purchased a new stake in shares of AZEK in the fourth quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares in the last quarter. Avalon Trust Co purchased a new position in AZEK during the 4th quarter worth $38,000. Finally, GAMMA Investing LLC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value 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 trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AZEK shares. Citigroup reaffirmed a “neutral” rating and issued a $51.50 price objective (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. BMO Capital Markets upped their price target on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research report on Monday, March 24th. Loop Capital cut their price objective on shares of AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday. Stephens lowered AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. Finally, Raymond James set a $51.50 target price on AZEK in a research report on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Hold” and a consensus price target of $53.53.

AZEK Stock Up 1.1 %

AZEK stock opened at $46.93 on Monday. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The business’s 50-day simple moving average is $46.03 and its two-hundred 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. The company has a market cap of $6.74 billion, a PE ratio of 47.41, a PEG ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last announced its quarterly earnings results 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%. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.