First Trust Advisors LP Has $19.58 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

First Trust Advisors LP increased its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 412,526 shares of the company's stock after buying an additional 33,486 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of AZEK worth $19,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC bought a new position in AZEK during the fourth quarter worth $27,000. FIL Ltd bought a new stake in shares of AZEK during the 4th quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co bought a new position in AZEK in the 4th quarter valued at about $38,000. Finally, GAMMA Investing LLC lifted its position in AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after acquiring an additional 239 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AZEK has been the topic of a number of recent research reports. Baird R W lowered AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Barclays decreased their price target on shares of AZEK from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird reaffirmed a "neutral" rating and set a $53.00 price target (down from $58.00) on shares of AZEK in a research report on Monday, March 24th. Finally, BMO Capital Markets boosted their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, AZEK has an average rating of "Hold" and an average price target of $53.53.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 883,765 shares of the company's stock, valued at $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company's stock.

AZEK Price Performance

NYSE:AZEK traded up $0.70 during trading hours on Friday, hitting $50.47. The company's stock had a trading volume of 431,425 shares, compared to its average volume of 3,128,270. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The company has a market capitalization of $7.25 billion, a P/E ratio of 50.97, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The stock has a fifty day simple moving average of $45.98 and a 200-day simple moving average of $47.80.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, 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.