The AZEK Company Inc. (NYSE:AZEK) Shares Bought by Algert Global LLC

Algert Global LLC grew its holdings in The AZEK Company Inc. (NYSE:AZEK) by 16.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,763 shares of the company’s stock after buying an additional 14,303 shares during the quarter. Algert Global LLC’s holdings in AZEK were worth $4,245,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC acquired a new stake in shares of AZEK in the 1st quarter valued at approximately $35,000. Whittier Trust Co. acquired a new stake in shares of AZEK in the 1st quarter valued at approximately $37,000. Versant Capital Management Inc lifted its holdings in shares of AZEK by 5,452.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock valued at $54,000 after buying an additional 1,254 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of AZEK in the 2nd quarter valued at approximately $90,000. Finally, Signaturefd LLC lifted its holdings in shares of AZEK by 32.7% in the 2nd quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after buying an additional 532 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other AZEK news, Director Pamela J. Edwards acquired 600 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of the transaction, the director now directly owns 8,708 shares in the company, valued at $363,123.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total value of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares in the company, valued at $7,742,656.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of AZEK stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the acquisition, the director now directly owns 8,708 shares of the company’s stock, valued at approximately $363,123.60. The disclosure for this purchase can be found here. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group dropped their price objective on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays dropped their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped their price objective on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Citigroup dropped their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, AZEK has a consensus rating of “Moderate Buy” and a consensus price target of $48.24.

AZEK Stock Performance

AZEK stock opened at $46.80 on Tuesday. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 1.43 and a beta of 1.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The AZEK Company Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The stock has a fifty day moving average of $42.83 and a two-hundred day moving average of $44.92.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $434.40 million during the quarter, compared to the consensus estimate of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, analysts anticipate that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

AZEK declared that its Board of Directors has authorized a share buyback plan on Monday, June 17th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.