State Board of Administration of Florida Retirement System lessened its position in The AZEK Company Inc. (NYSE:AZEK – Get Rating) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,419 shares of the company’s stock after selling 1,044 shares during the period. State Board of Administration of Florida Retirement System’s holdings in AZEK were worth $543,000 as of its most recent filing with the SEC.
Other large investors 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 14.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,930,112 shares of the company’s stock valued at $196,985,000 after purchasing an additional 1,023,425 shares during the period. Wellington Management Group LLP increased its position in AZEK by 920.6% during the first quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock worth $22,024,000 after acquiring an additional 799,760 shares during the period. Granite Investment Partners LLC increased its position in AZEK by 505.9% during the second quarter. Granite Investment Partners LLC now owns 908,562 shares of the company’s stock worth $15,209,000 after acquiring an additional 758,610 shares during the period. Hodges Capital Management Inc. increased its position in AZEK by 200.7% during the second quarter. Hodges Capital Management Inc. now owns 1,000,075 shares of the company’s stock worth $16,742,000 after acquiring an additional 667,488 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new position in AZEK during the second quarter worth about $11,092,000. Institutional investors and hedge funds own 96.49% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on AZEK. Stephens raised their price target on shares of AZEK from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AZEK from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, October 20th. Wedbush lowered shares of AZEK from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $24.00 to $21.00 in a report on Monday, August 8th. Citigroup lowered their price target on shares of AZEK from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 10th. Finally, Bank of America lowered their price objective on shares of AZEK from $23.00 to $21.00 in a research note on Tuesday, October 18th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.94.
AZEK Stock Performance
In related news, Director Vernon J. Nagel bought 3,000 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $18.52 per share, with a total value of $55,560.00. Following the transaction, the director now owns 27,029 shares in the company, valued at approximately $500,577.08. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company’s stock.
AZEK Company Profile
The AZEK Company Inc engages in designing, manufacturing, and selling 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 moulding, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.
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