KBC Group NV Buys 2,368 Shares of The AZEK Company Inc. (NYSE:AZEK)

KBC Group NV raised its stake in The AZEK Company Inc. (NYSE:AZEK) by 25.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,607 shares of the company’s stock after buying an additional 2,368 shares during the period. KBC Group NV’s holdings in AZEK were worth $551,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after purchasing an additional 3,595,863 shares during the period. FMR LLC increased its position in shares of AZEK by 57.9% during the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in AZEK by 73.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock worth $47,093,000 after buying an additional 425,609 shares in the last quarter. Gradient Investments LLC lifted its holdings in AZEK by 834.9% in the fourth quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock worth $19,474,000 after buying an additional 366,352 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in AZEK by 38.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after acquiring an additional 200,746 shares in the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Trading Down 1.5 %

NYSE AZEK opened at $51.23 on Monday. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The company has a 50 day moving average price of $50.42 and a 200 day moving average price of $46.21. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The firm has a market cap of $7.33 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 2.32 and a beta of 1.94.

Analyst Ratings Changes

A number of research firms have recently commented on AZEK. BMO Capital Markets raised their target price on AZEK from $49.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Barclays raised their price objective on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised shares of AZEK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. Finally, Truist Financial upped their price objective on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AZEK currently has an average rating of “Moderate Buy” and a consensus price target of $53.73.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the sale, the chief executive officer now owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,322 shares of company stock valued at $2,039,170 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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.