Rockefeller Capital Management L.P. Acquires 433,125 Shares of The AZEK Company Inc. (NYSE:AZEK)

Rockefeller Capital Management L.P. boosted its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 101.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 859,910 shares of the company's stock after purchasing an additional 433,125 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.60% of AZEK worth $40,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of AZEK during the fourth quarter valued at $27,000. FIL Ltd purchased a new position in AZEK in the fourth quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after buying an additional 592 shares in the last quarter. Avalon Trust Co purchased a new stake in shares of AZEK during the fourth quarter valued at approximately $38,000. Finally, GAMMA Investing LLC increased its position in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after acquiring an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stephens downgraded AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. 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 research report on Monday, March 24th. William Blair reaffirmed a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Raymond James set a $51.50 target price on shares of AZEK in a research note on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $53.53.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company's stock.

AZEK Price Performance

Shares of NYSE AZEK traded up $0.53 during midday trading on Friday, reaching $46.93. The stock had a trading volume of 3,422,787 shares, compared to its average volume of 2,174,565. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The stock has a 50-day moving average of $46.09 and a 200-day moving average of $47.54. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, research analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.