The AZEK Company Inc. (NYSE:AZEK) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,185 shares of the company’s stock after buying an additional 4,143 shares during the period. Quantinno Capital Management LP’s holdings in AZEK were worth $2,097,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC increased its stake in 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 buying an additional 5,499,986 shares during the period. Norges Bank acquired a new position in AZEK in the 4th quarter worth approximately $94,987,000. Balyasny Asset Management L.P. grew its holdings in shares of AZEK by 493.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after buying an additional 1,398,340 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of AZEK by 72.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock valued at $92,903,000 after purchasing an additional 823,588 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in AZEK by 101.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 859,910 shares of the company’s stock worth $40,820,000 after buying an additional 433,125 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Stephens reduced their target price on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Robert W. Baird boosted their price objective on AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Barclays increased their price target on shares of AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, AZEK has an average rating of “Hold” and an average target price of $53.93.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK 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 sale, the chief executive officer now directly owns 852,765 shares in the company, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company’s stock.

AZEK Price Performance

Shares of AZEK opened at $49.91 on Thursday. The stock has a 50 day simple moving average of $47.90 and a 200 day simple moving average of $48.47. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The firm has a market capitalization of $7.18 billion, a PE ratio of 50.41, a P/E/G ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share 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 company had revenue of $452.23 million during the quarter, compared to analysts’ expectations of $444.75 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.