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

Legal & General Group Plc trimmed its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 158,650 shares of the company’s stock after selling 17,307 shares during the period. Legal & General Group Plc’s holdings in AZEK were worth $7,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of 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 period. FMR LLC increased its position in shares of AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of AZEK by 15.0% in the 4th 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 in the last quarter. Norges Bank bought a new stake in shares of AZEK in the 4th quarter valued at about $94,987,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after purchasing an additional 90,206 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

Shares of AZEK stock opened at $46.93 on Friday. The business has a 50 day moving average of $46.03 and a two-hundred day moving average of $47.54. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The company has a market cap of $6.74 billion, a P/E ratio of 47.41, a PEG ratio of 1.91 and a beta of 1.86. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping 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%. As a group, analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current year.

Insider Activity

In other news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several research analyst reports. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Loop Capital dropped their target price on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday. BMO Capital Markets increased 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. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Stephens cut AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, AZEK currently has a consensus rating of “Hold” and an average price target of $53.53.

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.