Paladin Wealth LLC Increases Stake in The AZEK Company Inc. (NYSE:AZEK)

Paladin Wealth LLC increased its holdings in The AZEK Company Inc. (NYSE:AZEK) by 1,537.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,722 shares of the company’s stock after purchasing an additional 12,884 shares during the quarter. Paladin Wealth LLC’s holdings in AZEK were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. WCM Investment Management LLC grew its holdings in shares of AZEK by 2.2% in the third quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock worth $25,232,000 after purchasing an additional 11,770 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in AZEK by 8.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock worth $31,415,000 after acquiring an additional 50,230 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of AZEK by 105.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock valued at $2,845,000 after acquiring an additional 31,193 shares during the period. State Street Corp raised its stake in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after acquiring an additional 45,774 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in shares of AZEK by 18.5% during the third quarter. Algert Global LLC now owns 119,453 shares of the company’s stock worth $5,590,000 after purchasing an additional 18,690 shares during the period. 97.44% of the stock is owned by institutional investors.

AZEK Stock Down 0.2 %

AZEK stock opened at $49.99 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $50.17 and a 200 day moving average of $46.49. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market cap of $7.15 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, research analysts forecast that The AZEK Company Inc. will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,322 shares of company stock valued at $2,039,170. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Robert W. Baird boosted their target price on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Royal Bank of Canada raised their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. BMO Capital Markets boosted their price objective on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a research report on Thursday, February 6th. Finally, Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

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.