Jennison Associates LLC Has $30.17 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Jennison Associates LLC raised its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 2,948.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,666 shares of the company's stock after purchasing an additional 762,793 shares during the quarter. Jennison Associates LLC owned about 0.53% of AZEK worth $30,166,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Alliance Wealth Advisors LLC UT raised its position in AZEK by 4.1% in the third quarter. Alliance Wealth Advisors LLC UT now owns 13,044 shares of the company's stock valued at $388,000 after purchasing an additional 515 shares during the period. First Dallas Securities Inc. raised its position in AZEK by 5.8% in the third quarter. First Dallas Securities Inc. now owns 10,050 shares of the company's stock valued at $299,000 after purchasing an additional 550 shares during the period. Mariner LLC raised its position in AZEK by 4.4% in the third quarter. Mariner LLC now owns 16,398 shares of the company's stock valued at $488,000 after purchasing an additional 687 shares during the period. CWM LLC raised its position in AZEK by 81.3% in the fourth quarter. CWM LLC now owns 2,022 shares of the company's stock valued at $77,000 after purchasing an additional 907 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in AZEK by 1.5% in the third quarter. Exchange Traded Concepts LLC now owns 71,396 shares of the company's stock valued at $2,123,000 after purchasing an additional 1,029 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

AZEK Stock Performance

AZEK stock traded up $0.15 during midday trading on Thursday, reaching $45.55. The company had a trading volume of 884,982 shares, compared to its average volume of 1,469,086. The firm has a market capitalization of $6.73 billion, a PE ratio of 57.66, a P/E/G ratio of 1.49 and a beta of 1.92. The AZEK Company Inc. has a fifty-two week low of $23.08 and a fifty-two week high of $50.78. The stock has a 50 day moving average price of $47.82 and a 200 day moving average price of $39.02. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43.

AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The company had revenue of $240.44 million for the quarter, compared to the consensus estimate of $234.12 million. Analysts anticipate that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the sale, the chief executive officer now directly owns 1,184,444 shares of the company's stock, valued at approximately $53,702,690.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jesse G. Singh sold 13,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan Skelly sold 10,000 shares of the business's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $46.78, for a total transaction of $467,800.00. Following the transaction, the insider now owns 180,784 shares in the company, valued at $8,457,075.52. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock valued at $6,356,622 in the last three months. 3.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AZEK shares. Benchmark started coverage on AZEK in a research report on Friday, April 19th. They issued a "buy" rating and a $55.00 price objective on the stock. TheStreet raised AZEK from a "c+" rating to a "b-" rating in a research report on Wednesday, January 31st. B. Riley lifted their target price on AZEK from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, February 7th. Barclays lifted their target price on AZEK from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, April 4th. Finally, Robert W. Baird lifted their target price on AZEK from $52.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $44.11.

AZEK Company 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.