Legal & General Group Plc Trims Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Legal & General Group Plc cut its position in The AZEK Company Inc. (NYSE:AZEK) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,650 shares of the company’s stock after selling 17,307 shares during the quarter. Legal & General Group Plc owned 0.11% of AZEK worth $7,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AZEK. Vanguard Group Inc. lifted its stake in AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock worth $685,032,000 after acquiring an additional 54,725 shares during the last quarter. FMR LLC raised its holdings in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after purchasing an additional 429,574 shares during the period. Norges Bank acquired a new position in shares of AZEK during the fourth quarter worth about $94,987,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after buying an additional 90,206 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on AZEK. Barclays reduced their price target 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. Citigroup reaffirmed a “neutral” rating and issued a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Finally, Raymond James set a $51.50 price objective on shares of AZEK in a research note on Tuesday, March 25th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $53.53.

AZEK Stock Performance

AZEK opened at $46.93 on Friday. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 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 business’s 50-day moving average price is $46.03 and its two-hundred day moving average price is $47.54. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 47.41, a P/E/G ratio of 1.91 and a beta of 1.86.

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

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

AZEK Company 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.