Valmark Advisers Inc. Acquires New Position in The AZEK Company Inc. (NYSE:AZEK)

Valmark Advisers Inc. bought a new position in The AZEK Company Inc. (NYSE:AZEK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,270 shares of the company's stock, valued at approximately $795,000.

Other large investors have also recently modified their holdings of the company. FIL Ltd purchased a new position in AZEK during the fourth quarter valued at approximately $28,000. NBC Securities Inc. purchased a new position in AZEK during the first quarter valued at approximately $29,000. Parallel Advisors LLC grew its stake in AZEK by 261.4% during the first quarter. Parallel Advisors LLC now owns 683 shares of the company's stock valued at $33,000 after acquiring an additional 494 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after acquiring an additional 592 shares in the last quarter. Finally, Avalon Trust Co purchased a new position in AZEK during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 97.44% of the company's stock.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 852,765 shares of the company's stock, 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 through the SEC website. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AZEK shares. Loop Capital reduced their price objective on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. Raymond James Financial set a $51.50 price objective on shares of AZEK in a research note on Tuesday, March 25th. Robert W. Baird lifted their target price on shares of AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $53.93.

AZEK Trading Up 3.5%

Shares of AZEK traded up $1.87 during mid-day trading on Friday, reaching $54.82. The company's stock had a trading volume of 4,795,103 shares, compared to its average volume of 2,432,722. The stock has a market cap of $7.89 billion, a PE 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 AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The company's fifty day moving average price is $50.91 and its two-hundred day moving average price is $48.80.

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