Bessemer Group Inc. Grows Stake in The AZEK Company Inc. (NYSE:AZEK)

Bessemer Group Inc. raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 52.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 0.30% of AZEK worth $20,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZEK. Vanguard Group Inc. boosted its position in shares of AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock valued at $685,032,000 after acquiring an additional 54,725 shares during the period. FMR LLC lifted its stake in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company's stock worth $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. lifted its stake in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after purchasing an additional 429,574 shares in the last quarter. Wasatch Advisors LP boosted its holdings in AZEK by 11.6% in the 4th quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock valued at $98,928,000 after purchasing an additional 216,849 shares during the period. Finally, Norges Bank bought a new position in AZEK in the 4th quarter valued at $94,987,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Price Performance

Shares of AZEK stock traded down $0.59 during trading hours on Monday, hitting $54.27. 26,846,822 shares of the company's stock were exchanged, compared to its average volume of 2,530,379. The company has a market capitalization of $7.81 billion, a PE ratio of 53.21 and a beta of 1.82. The business's 50 day simple moving average is $51.08 and its 200-day simple moving average is $48.77. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a current ratio of 2.45, a quick ratio of 1.47 and a debt-to-equity ratio of 0.29.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The business had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The company's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. On average, equities research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AZEK shares. Robert W. Baird increased their price objective on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Raymond James Financial set a $51.50 target price on AZEK in a research note on Tuesday, March 25th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. UBS Group dropped their price target on AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Citigroup reissued a "neutral" rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Ten 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 an average price target of $53.93.

AZEK Profile

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.