Bank of New York Mellon Corp Has $32.01 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Bank of New York Mellon Corp lifted its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 25.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 654,797 shares of the company’s stock after acquiring an additional 132,046 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of AZEK worth $32,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of AZEK. FIL Ltd purchased a new stake in shares of AZEK during the 4th quarter valued at approximately $28,000. NBC Securities Inc. bought a new stake in AZEK during the first quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 buying an additional 592 shares during the last quarter. Parallel Advisors LLC grew its position in AZEK by 261.4% during the first quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock valued at $33,000 after buying an additional 494 shares during the period. Finally, Olde Wealth Management LLC bought a new position in shares of AZEK during the first quarter worth $48,000. Institutional investors own 97.44% of the company’s stock.

AZEK Price Performance

Shares of AZEK stock opened at $54.35 on Wednesday. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The stock has a market cap of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.47. The stock has a fifty day moving average price of $52.19 and a 200 day moving average price of $49.13.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. Analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the sale, the chief executive officer directly owned 852,765 shares in the company, valued at $43,832,121. This represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

AZEK has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday, March 24th. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Loop Capital cut their price target 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. Barclays boosted their price target on shares of AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Finally, Citigroup reissued a “neutral” rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.93.

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.