Bessemer Group Inc. Buys 145,849 Shares of The AZEK Company Inc. (NYSE:AZEK)

Bessemer Group Inc. increased its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 52.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 424,382 shares of the company's stock after buying an additional 145,849 shares during the quarter. Bessemer Group Inc. owned 0.30% of AZEK worth $20,748,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZEK. Farther Finance Advisors LLC boosted its position in AZEK by 472.9% during the first quarter. Farther Finance Advisors LLC now owns 1,948 shares of the company's stock valued at $94,000 after purchasing an additional 1,608 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AZEK by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock valued at $55,519,000 after buying an additional 24,249 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of AZEK in the fourth quarter valued at approximately $717,000. Fifth Third Bancorp lifted its position in shares of AZEK by 6.8% in the first quarter. Fifth Third Bancorp now owns 7,236 shares of the company's stock valued at $354,000 after buying an additional 461 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in AZEK during the 4th quarter worth approximately $19,436,000. 97.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the sale, the chief executive officer now directly owns 852,765 shares of the company's stock, valued at $43,832,121. The trade was a 2.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several research reports. Stephens dropped their price target on AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. UBS Group dropped their price target on AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Loop Capital dropped their price target on AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Barclays lifted their price target on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $53.93.

AZEK Price Performance

NYSE:AZEK traded up $1.87 on Friday, hitting $54.82. The company had a trading volume of 4,795,103 shares, compared to its average volume of 2,439,177. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 53.74 and a beta of 1.82. The company has a current ratio of 2.45, a quick ratio of 1.47 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $50.75 and a two-hundred day moving average of $48.84. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $55.04.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.87% and a net margin of 9.92%. AZEK's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. On average, research analysts anticipate 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.