Ontario Teachers Pension Plan Board Has $337.23 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

Ontario Teachers Pension Plan Board decreased its holdings in The AZEK Company Inc. (NYSE:AZEK) by 25.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,325,990 shares of the company’s stock after selling 4,770,000 shares during the period. AZEK comprises 3.5% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 14th largest holding. Ontario Teachers Pension Plan Board owned about 9.49% of AZEK worth $337,234,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of AZEK by 726.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,206 shares of the company’s stock valued at $29,000 after purchasing an additional 1,060 shares during the period. Covestor Ltd grew its stake in shares of AZEK by 1,441.8% in the 1st quarter. Covestor Ltd now owns 2,544 shares of the company’s stock valued at $63,000 after buying an additional 2,379 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of AZEK in the 1st quarter valued at approximately $85,000. Harvest Fund Management Co. Ltd grew its stake in shares of AZEK by 5,176.6% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 4,063 shares of the company’s stock valued at $96,000 after buying an additional 3,986 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of AZEK in the 1st quarter valued at approximately $124,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AZEK shares. Deutsche Bank Aktiengesellschaft boosted their price target on AZEK from $34.00 to $38.00 in a research note on Thursday, August 10th. Jefferies Financial Group boosted their price target on AZEK from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Truist Financial boosted their price target on AZEK from $30.00 to $40.00 in a research note on Wednesday, August 9th. JPMorgan Chase & Co. boosted their price target on AZEK from $30.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Finally, Wedbush upped their target price on AZEK from $17.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus target price of $35.78.

Insider Activity at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $32.66, for a total transaction of $424,580.00. Following the sale, the chief executive officer now owns 1,239,824 shares in the company, valued at $40,492,651.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $32.66, for a total transaction of $424,580.00. Following the sale, the chief executive officer now owns 1,239,824 shares in the company, valued at $40,492,651.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jesse G. Singh sold 30,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $33.32, for a total value of $999,600.00. Following the sale, the chief executive officer now owns 70,000 shares in the company, valued at approximately $2,332,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,000 shares of company stock worth $2,598,080. 3.10% of the stock is owned by corporate insiders.

AZEK Stock Performance

Shares of AZEK stock traded down $0.73 during trading hours on Wednesday, reaching $31.77. 572,042 shares of the company’s stock were exchanged, compared to its average volume of 1,683,159. The AZEK Company Inc. has a fifty-two week low of $15.12 and a fifty-two week high of $34.96. The stock has a market capitalization of $4.75 billion, a P/E ratio of 232.29, a P/E/G ratio of 6.89 and a beta of 1.69. The business has a fifty day moving average price of $31.79 and a 200-day moving average price of $27.44. The company has a quick ratio of 2.08, a current ratio of 3.41 and a debt-to-equity ratio of 0.40.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.06. AZEK had a return on equity of 5.53% and a net margin of 1.60%. The company had revenue of $387.55 million during the quarter, compared to analyst estimates of $372.75 million. Analysts predict that The AZEK Company Inc. will post 0.56 EPS for the current fiscal year.

AZEK Company Profile

The AZEK Company Inc engages in 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, 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.