The AZEK Company Inc. (NYSE:AZEK) Holdings Decreased by Synovus Financial Corp

Synovus Financial Corp lowered its position in The AZEK Company Inc. (NYSE:AZEK) by 18.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,484 shares of the company’s stock after selling 2,539 shares during the quarter. Synovus Financial Corp’s holdings in AZEK were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares in the last quarter. FMR LLC grew its stake in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after purchasing an additional 2,497,074 shares in the last quarter. State Street Corp grew its stake in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after purchasing an additional 45,774 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AZEK by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after buying an additional 118,351 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of AZEK by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after buying an additional 12,644 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the sale, the chief executive officer now directly owns 923,765 shares in the company, valued at approximately $49,255,149.80. This represents a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

AZEK Trading Down 0.8 %

AZEK stock opened at $52.74 on Wednesday. The business has a 50 day moving average price of $48.03 and a two-hundred day moving average price of $45.07. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.92. The AZEK Company Inc. has a 12 month low of $35.38 and a 12 month high of $54.91.

Analysts Set New Price Targets

A number of analysts have weighed in on AZEK shares. Loop Capital cut AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. DA Davidson boosted their price target on AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays boosted their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

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.