GAMMA Investing LLC Has $2.32 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

GAMMA Investing LLC increased its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 5,478.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,472 shares of the company's stock after buying an additional 46,621 shares during the quarter. GAMMA Investing LLC's holdings in AZEK were worth $2,321,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AZEK. Vanguard Group Inc. boosted its holdings in AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock valued at $685,032,000 after purchasing an additional 54,725 shares in the last quarter. FMR LLC boosted its holdings in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock valued at $584,431,000 after purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in AZEK by 15.0% during 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. Wasatch Advisors LP boosted its holdings in AZEK by 11.6% during the fourth 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 in the last quarter. Finally, Norges Bank acquired a new stake in AZEK during the fourth quarter valued at approximately $94,987,000. 97.44% of the stock is owned by institutional investors and hedge funds.

AZEK Trading Down 1.5%

Shares of AZEK stock traded down $0.82 on Friday, hitting $53.33. 1,781,173 shares of the company's stock traded hands, compared to its average volume of 2,403,619. The firm's 50-day moving average price is $49.77 and its two-hundred day moving average price is $48.92. The stock has a market capitalization of $7.67 billion, a PE ratio of 53.87, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $452.23 million during the quarter, compared to analysts' expectations of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The business's revenue for the quarter 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 expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were 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 owns 852,765 shares in the company, valued at $43,832,121. This represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of recent research reports. Barclays lifted their price objective on AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Robert W. Baird boosted their target price on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. BMO Capital Markets boosted their target price on AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a report on Monday, March 24th. Finally, Citigroup reissued a "neutral" rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, AZEK has a consensus rating of "Hold" and a consensus 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.