The Manufacturers Life Insurance Company Grows Stock Position in The AZEK Company Inc. (NYSE:AZEK)

The Manufacturers Life Insurance Company lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 7.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 776,233 shares of the company's stock after buying an additional 56,665 shares during the period. The Manufacturers Life Insurance Company owned about 0.54% of AZEK worth $36,848,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after buying an additional 90,206 shares during the last quarter. Blue Trust Inc. boosted its holdings in AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after acquiring an additional 877 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AZEK by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after purchasing an additional 24,249 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of AZEK in the 4th quarter worth approximately $717,000. Finally, Raymond James Financial Inc. bought a new stake in shares of AZEK in the 4th quarter valued at $19,436,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Performance

NYSE AZEK traded down $0.36 during trading on Wednesday, hitting $49.27. 765,613 shares of the company's stock traded hands, compared to its average volume of 2,218,898. The business has a 50 day moving average of $46.18 and a 200-day moving average of $47.94. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. 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 market capitalization of $7.08 billion, a price-to-earnings ratio of 49.84, a PEG ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The business had revenue of $452.23 million for the quarter, compared to analysts' expectations of $444.75 million. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, equities research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZEK has been the topic of a number of recent analyst reports. Robert W. Baird reissued a "neutral" rating and issued a $53.00 price objective (down from $58.00) on shares of AZEK in a research note on Monday, March 24th. Loop Capital dropped their target price on shares of AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Stephens cut shares of AZEK from an "overweight" rating to a "mixed" rating in a report on Monday, March 24th. BMO Capital Markets upped 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. Finally, UBS Group reduced their target price on AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.07.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.20% of the company's stock.

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.