Sterling Capital Management LLC Grows Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Sterling Capital Management LLC increased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,194 shares of the company’s stock after purchasing an additional 732 shares during the quarter. Sterling Capital Management LLC’s holdings in AZEK were worth $199,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after buying an additional 5,499,986 shares in the last quarter. Norges Bank purchased a new position in AZEK in the 4th quarter worth approximately $94,987,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of AZEK by 72.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after purchasing an additional 823,588 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after purchasing an additional 429,574 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of AZEK in the fourth quarter valued at approximately $19,436,000. 97.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,387 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AZEK. Stephens cut AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. Loop Capital lowered their price target on shares of AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Finally, Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.53.

AZEK Stock Performance

Shares of AZEK stock opened at $46.93 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The business has a 50-day moving average of $46.03 and a 200 day moving average of $47.56. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, sell-side analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.