The AZEK Company Inc. (NYSE:AZEK) Position Boosted by Norden Group LLC

Norden Group LLC increased its holdings in The AZEK Company Inc. (NYSE:AZEK) by 1,234.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 144,234 shares of the company’s stock after purchasing an additional 133,425 shares during the quarter. Norden Group LLC’s holdings in AZEK were worth $7,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares in the last quarter. Principal Securities Inc. bought a new position in AZEK during the 4th quarter valued at $44,000. CWM LLC boosted its stake in AZEK by 81.3% during the 4th quarter. CWM LLC now owns 2,022 shares of the company’s stock valued at $77,000 after purchasing an additional 907 shares in the last quarter. Federated Hermes Inc. boosted its stake in AZEK by 80.4% during the 4th quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock valued at $167,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Bailard Inc. bought a new position in AZEK during the 4th quarter valued at $203,000. 97.44% of the stock is owned by institutional investors.

AZEK Price Performance

Shares of NYSE:AZEK opened at $40.66 on Friday. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. The business has a fifty day simple moving average of $45.50 and a 200 day simple moving average of $44.35. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 39.86, a P/E/G ratio of 1.31 and a beta of 1.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AZEK shares. Barclays increased their price objective on AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Benchmark started coverage on AZEK in a research report on Friday, April 19th. They set a “buy” rating and a $55.00 price objective for the company. DA Davidson downgraded AZEK from a “buy” rating to a “neutral” rating and cut their price objective for the company from $57.00 to $44.00 in a research report on Wednesday. Robert W. Baird cut their price objective on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Truist Financial reiterated a “buy” rating and set a $57.00 price objective on shares of AZEK in a research report on Tuesday, June 18th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.26.

Insider Buying and Selling

In related news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now directly owns 190,134 shares in the company, valued at $8,883,060.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,000 shares of company stock worth $1,786,150. Corporate insiders own 3.10% of the company’s stock.

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.