Dimensional Fund Advisors LP Raises Holdings in The AZEK Company Inc. (NYSE:AZEK)

Dimensional Fund Advisors LP increased its position in The AZEK Company Inc. (NYSE:AZEK) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,354,096 shares of the company’s stock after acquiring an additional 118,351 shares during the quarter. Dimensional Fund Advisors LP owned about 1.62% of AZEK worth $99,175,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in shares of AZEK in the first quarter worth about $35,000. Quadrant Capital Group LLC grew its stake in AZEK by 45.9% in the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares in the last quarter. Whittier Trust Co. bought a new stake in AZEK during the 1st quarter valued at $37,000. Versant Capital Management Inc lifted its position in shares of AZEK by 5,452.2% during the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock worth $54,000 after acquiring an additional 1,254 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of AZEK in the first quarter valued at $103,000. 97.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AZEK shares. Citigroup dropped their price objective on AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays reduced their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. UBS Group lowered their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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 a consensus rating of “Moderate Buy” and a consensus target price of $48.24.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total value of $542,750.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at $42,770,537. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

AZEK Stock Up 0.9 %

Shares of NYSE AZEK opened at $46.75 on Wednesday. The stock has a market capitalization of $6.80 billion, a P/E ratio of 45.83, a PEG ratio of 1.29 and a beta of 1.87. The AZEK Company Inc. has a one year low of $25.03 and a one year high of $50.78. The firm’s 50 day simple moving average is $42.70 and its two-hundred day simple moving average is $44.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

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

AZEK announced that its Board of Directors has authorized a share buyback program on Monday, June 17th that allows the company to repurchase $600.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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.