Norden Group LLC Boosts Stake in The AZEK Company Inc. (NYSE:AZEK)

Norden Group LLC lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 30.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,779 shares of the company’s stock after acquiring an additional 4,818 shares during the quarter. Norden Group LLC’s holdings in AZEK were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in AZEK in the 4th quarter worth approximately $44,418,000. Corient Private Wealth LLC grew its holdings in shares of AZEK by 1,339.0% in the fourth quarter. Corient Private Wealth LLC now owns 657,712 shares of the company’s stock worth $25,157,000 after acquiring an additional 612,005 shares during the period. Price T Rowe Associates Inc. MD increased its position in AZEK by 66.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in AZEK in the first quarter valued at about $26,360,000. Finally, Massachusetts Financial Services Co. MA boosted its position in AZEK by 7.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock worth $291,951,000 after purchasing an additional 516,523 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Down 0.4 %

NYSE AZEK opened at $41.10 on Friday. The AZEK Company Inc. has a 12 month low of $25.03 and a 12 month high of $50.78. The company has a current ratio of 3.07, a quick ratio of 2.11 and a debt-to-equity ratio of 0.41. The stock has a market cap of $5.98 billion, a PE ratio of 40.29, a P/E/G ratio of 1.32 and a beta of 1.87. The stock’s 50 day moving average is $42.18 and its 200 day moving average is $45.29.

AZEK (NYSE:AZEK) last released its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $396.89 million. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. Research analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Insider Buying and Selling at AZEK

In related news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The sale was disclosed in a filing with the SEC, which is available through this link. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the completion of the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the sale, the insider now owns 190,134 shares in the company, valued at $8,883,060.48. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $1,932,790 in the last 90 days. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AZEK. Royal Bank of Canada reduced their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. BMO Capital Markets dropped their price target on shares of AZEK from $50.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus cut their price objective on shares of AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their target price on AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.24.

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.