Rhumbline Advisers Has $8.32 Million Position in The AZEK Company Inc. (NYSE:AZEK)

Rhumbline Advisers grew its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 7.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 170,266 shares of the company’s stock after buying an additional 12,266 shares during the period. Rhumbline Advisers owned approximately 0.12% of AZEK worth $8,324,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AZEK. Truist Financial Corp increased its stake in AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock valued at $793,000 after acquiring an additional 255 shares during the period. Investment House LLC increased its stake in AZEK by 0.7% in the fourth quarter. Investment House LLC now owns 39,255 shares of the company’s stock valued at $1,863,000 after acquiring an additional 290 shares during the period. Federated Hermes Inc. increased its stake in AZEK by 4.8% in the fourth quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock valued at $332,000 after acquiring an additional 318 shares during the period. Smartleaf Asset Management LLC increased its stake in AZEK by 13.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after acquiring an additional 352 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in AZEK by 4.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company’s stock valued at $388,000 after acquiring an additional 379 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the transaction, the chief executive officer now directly owns 852,765 shares in the company, valued at $43,832,121. This represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AZEK shares. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. UBS Group lowered their target price on shares of AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Loop Capital decreased their price objective on shares of AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird upped their price objective on shares of AZEK from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Finally, Stephens decreased their price objective on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $53.93.

AZEK Price Performance

AZEK opened at $54.47 on Wednesday. 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. The company’s 50 day simple moving average is $49.22 and its 200-day simple moving average is $48.87. The stock has a market capitalization of $7.84 billion, a P/E ratio of 55.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business had revenue of $452.23 million for the quarter, compared to analysts’ expectations of $444.75 million. During the same period in the prior year, the firm earned $0.39 earnings per share. AZEK’s revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal 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.