Polymer Capital Management US LLC Acquires New Holdings in The AZEK Company Inc. (NYSE:AZEK)

Polymer Capital Management US LLC acquired a new position in The AZEK Company Inc. (NYSE:AZEK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,100 shares of the company’s stock, valued at approximately $432,000.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of AZEK by 80.7% during the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after buying an additional 5,499,986 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of AZEK by 4.8% during the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company’s stock worth $332,000 after buying an additional 318 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in AZEK during the 4th quarter worth approximately $563,000. Cinctive Capital Management LP acquired a new stake in shares of AZEK during the fourth quarter worth about $812,000. Finally, Alliancebernstein L.P. grew its position in AZEK by 15.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company’s stock valued at $156,396,000 after buying an additional 429,574 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Baird R W cut AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Wolfe Research reissued a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 target price (down from $58.00) on shares of AZEK in a research report on Monday, March 24th. Finally, Citigroup restated a “neutral” rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.32.

AZEK Stock Down 4.0 %

AZEK stock opened at $46.25 on Monday. The stock has a market cap of $6.65 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. 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 AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm’s 50-day simple moving average is $47.18 and its 200 day simple moving average is $47.59.

AZEK (NYSE:AZEK) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Research analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 15,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the transaction, the chief executive officer now owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 55,000 shares of company stock valued at $2,518,624 in the last three months. 3.20% of the stock is currently owned by company 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.