Wellington Management Group LLP Has $631.97 Million Position in The AZEK Company Inc. (NYSE:AZEK)

Wellington Management Group LLP cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,313,032 shares of the company’s stock after selling 911,378 shares during the period. Wellington Management Group LLP owned about 9.27% of AZEK worth $631,970,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AZEK. Empowered Funds LLC acquired a new stake in shares of AZEK in the fourth quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after purchasing an additional 592 shares during the period. Avalon Trust Co bought a new stake in shares of AZEK in the 4th quarter valued at $38,000. GAMMA Investing LLC increased its position in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK during the third quarter worth $59,000. 97.44% of the stock is owned by institutional investors.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the transaction, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 55,000 shares of company stock valued at $2,518,624 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AZEK. Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Robert W. Baird reiterated a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a report on Monday, March 24th. Barclays increased their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. 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 report on Monday, March 24th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.32.

AZEK Trading Down 1.6 %

NYSE:AZEK opened at $48.86 on Tuesday. The firm’s 50 day moving average is $47.38 and its 200 day moving average is $47.50. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91. The stock has a market capitalization of $7.02 billion, a PE ratio of 49.35, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK) last announced 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%. Sell-side analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current 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.