Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in The AZEK Company Inc. (NYSE:AZEK) by 623.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 687 shares of the company’s stock after acquiring an additional 592 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AZEK were worth $33,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC purchased a new stake in AZEK in the 4th quarter worth approximately $27,000. Avalon Trust Co purchased a new stake in AZEK during the fourth quarter worth $38,000. GAMMA Investing LLC boosted its holdings in AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after buying an additional 239 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in AZEK during the third quarter valued at $59,000. Finally, Blue Trust Inc. increased 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 buying an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 55,000 shares of company stock valued at $2,518,624 in the last 90 days. Company insiders own 3.20% of the company’s stock.

AZEK Stock Performance

NYSE AZEK opened at $46.25 on Friday. 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’s fifty day moving average is $47.18 and its two-hundred day moving average is $47.56. The firm has a market capitalization of $6.65 billion, a P/E ratio of 46.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

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

Analysts Set New Price Targets

AZEK has been the subject of several recent analyst reports. Wolfe Research restated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. BMO Capital Markets boosted their price objective on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. Royal Bank of Canada increased their target price on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $54.32.

AZEK 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.