Paladin Wealth LLC Raises Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Paladin Wealth LLC boosted its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 13.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,574 shares of the company’s stock after acquiring an additional 1,852 shares during the period. Paladin Wealth LLC’s holdings in AZEK were worth $761,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC purchased a new position in AZEK during the fourth quarter valued at approximately $27,000. FIL Ltd purchased a new position in AZEK during the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in AZEK during the first quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake 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 acquiring an additional 494 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

AZEK Price Performance

Shares of AZEK stock opened at $49.48 on Monday. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 49.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a fifty day moving average of $48.69 and a 200-day moving average of $48.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of research reports. Barclays boosted their price target on shares of AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. William Blair reissued a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. Citigroup reissued a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.93.

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.