Millennium Management LLC Has $54.72 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

Millennium Management LLC lifted its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 25.7% during the second quarter, Holdings Channel.com reports. The firm owned 1,298,920 shares of the company’s stock after acquiring an additional 265,827 shares during the quarter. Millennium Management LLC’s holdings in AZEK were worth $54,724,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in AZEK by 3.7% in the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after buying an additional 251 shares during the period. Signaturefd LLC lifted its holdings in AZEK by 32.7% in the second quarter. Signaturefd LLC now owns 2,157 shares of the company’s stock valued at $91,000 after buying an additional 532 shares during the period. Treasurer of the State of North Carolina lifted its holdings in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after buying an additional 570 shares during the period. ORG Partners LLC acquired a new position in AZEK in the first quarter valued at $35,000. Finally, Whittier Trust Co. acquired a new position in AZEK in the first quarter valued at $37,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AZEK shares. DA Davidson lowered shares of AZEK from a “buy” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. UBS Group dropped their target price on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Citigroup decreased their price target on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. Finally, Truist Financial decreased their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average target price of $48.24.

AZEK Trading Up 0.1 %

Shares of AZEK stock opened at $46.80 on Tuesday. The AZEK Company Inc. has a 52-week low of $25.03 and a 52-week high of $50.78. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The company has a 50-day simple moving average of $42.83 and a two-hundred day simple moving average of $44.92. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 1.43 and a beta of 1.87.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million during the quarter, compared to the consensus estimate of $396.89 million. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Research analysts anticipate that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

AZEK announced that its Board of Directors has approved a share buyback plan on Monday, June 17th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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 dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at $42,770,537. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the transaction, the chief executive officer now directly owns 1,024,444 shares in the company, valued at $42,770,537. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela J. Edwards bought 600 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the purchase, the director now owns 8,708 shares of the company’s stock, valued at $363,123.60. The disclosure for this purchase can be found here. Corporate insiders own 3.10% of the company’s stock.

About AZEK

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.