KLP Kapitalforvaltning AS Invests $1.39 Million in The AZEK Company Inc. (NYSE:AZEK)

KLP Kapitalforvaltning AS purchased a new stake in The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,300 shares of the company’s stock, valued at approximately $1,391,000.

Several other institutional investors and hedge funds have also bought and sold shares of AZEK. Empowered Funds LLC bought a new stake in AZEK during the fourth quarter worth $27,000. Avalon Trust Co acquired a new position in shares of AZEK during the 4th quarter worth $38,000. GAMMA Investing LLC raised its holdings in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AZEK during the 3rd quarter worth $59,000. Finally, Millburn Ridgefield Corp acquired a new stake in AZEK in the third quarter valued at about $84,000. Institutional investors own 97.44% of the company’s stock.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 55,000 shares of company stock worth $2,518,624 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of research reports. William Blair reissued a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Royal Bank of Canada increased their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Stephens cut shares of AZEK from an “overweight” rating to a “mixed” rating in a research note on Monday, March 24th. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Wolfe Research restated a “peer perform” rating on shares of AZEK in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has a consensus rating of “Hold” and an average target price of $54.32.

AZEK Stock Down 0.3 %

AZEK stock opened at $49.65 on Friday. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 1.91 and a beta of 1.95. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The firm has a 50 day moving average price of $47.40 and a two-hundred day moving average price of $47.41.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities analysts predict that The AZEK Company Inc. will post 1.34 EPS 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.