AlphaCrest Capital Management LLC raised its position in shares of The AZEK Company Inc. (NYSE:AZEK – Get Rating) by 115.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,918 shares of the company’s stock after purchasing an additional 18,194 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in AZEK were worth $564,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of AZEK by 11.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,849,750 shares of the company’s stock worth $148,144,000 after purchasing an additional 919,638 shares during the period. Wellington Management Group LLP raised its holdings in AZEK by 920.6% during the 1st quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock worth $22,024,000 after buying an additional 799,760 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of AZEK by 55.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,960,950 shares of the company’s stock worth $32,591,000 after buying an additional 703,268 shares during the period. WCM Investment Management LLC purchased a new position in shares of AZEK in the second quarter worth approximately $10,803,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of AZEK by 361.9% during the first quarter. The Manufacturers Life Insurance Company now owns 719,384 shares of the company’s stock valued at $17,869,000 after acquiring an additional 563,637 shares during the period. 99.05% of the stock is owned by institutional investors.
AZEK Trading Up 0.3 %
AZEK stock opened at $23.78 on Thursday. The AZEK Company Inc. has a one year low of $15.12 and a one year high of $30.26. The company’s fifty day moving average price is $23.94 and its two-hundred day moving average price is $20.32. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 113.24, a PEG ratio of 7.80 and a beta of 1.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.91 and a quick ratio of 1.09.
Analyst Upgrades and Downgrades
A number of research firms recently commented on AZEK. Stephens raised their price objective on shares of AZEK from $23.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. UBS Group lifted their price target on AZEK from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 9th. Barclays increased their price objective on AZEK from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. Bank of America cut AZEK from a “buy” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $25.00 in a research note on Monday, January 30th. Finally, Robert W. Baird increased their price target on shares of AZEK from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.28.
Insider Buying and Selling
In related news, Director Corporate Opportunities F. Ares sold 4,770,000 shares of AZEK stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $26.06, for a total value of $124,306,200.00. Following the transaction, the director now owns 14,326,090 shares in the company, valued at approximately $373,337,905.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is owned by insiders.
About AZEK
The AZEK Company Inc engages in designing, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.
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