The AZEK Company Inc. (NYSE:AZEK) Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 92.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,595 shares of the company’s stock after selling 134,020 shares during the quarter. Prudential Financial Inc.’s holdings in AZEK were worth $530,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AZEK. Vanguard Group Inc. lifted its stake in AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after purchasing an additional 54,725 shares during the last quarter. State Street Corp increased its holdings in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AZEK by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after acquiring an additional 12,644 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AZEK by 4.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after acquiring an additional 90,206 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of AZEK by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company’s stock worth $55,519,000 after acquiring an additional 24,249 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AZEK. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Citigroup reiterated a “neutral” rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Stephens lowered shares of AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. BMO Capital Markets raised their price objective on shares of AZEK from $54.00 to $57.00 and gave the stock a “market perform” rating in a research note on Monday, March 24th. Finally, Raymond James set a $51.50 price objective on shares of AZEK in a research report on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, AZEK currently has an average rating of “Hold” and an average target price of $53.40.

AZEK Price Performance

NYSE AZEK opened at $43.39 on Wednesday. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The stock’s 50-day moving average is $46.71 and its two-hundred day moving average is $47.53. The firm has a market cap of $6.23 billion, a P/E ratio of 43.83, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, 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.