Sumitomo Mitsui Trust Group Inc. Decreases Position in The AZEK Company Inc. (NYSE:AZEK)

Sumitomo Mitsui Trust Group Inc. lowered its position in The AZEK Company Inc. (NYSE:AZEK) by 15.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,440 shares of the company’s stock after selling 4,254 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AZEK were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AZEK. Mercer Global Advisors Inc. ADV acquired a new stake in AZEK during the 2nd quarter valued at $86,719,000. Price T Rowe Associates Inc. MD boosted its stake in shares of AZEK by 66.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after acquiring an additional 587,107 shares during the last quarter. Interval Partners LP increased its position in AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares in the last quarter. Vanguard Group Inc. raised its stake in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after purchasing an additional 413,297 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in AZEK by 136.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock valued at $26,763,000 after purchasing an additional 366,025 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Analysts Set New Price Targets

AZEK has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada dropped their target price on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Loop Capital lowered AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research note on Friday, October 4th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of AZEK in a report on Friday, August 9th. Finally, UBS Group cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, AZEK has an average rating of “Moderate Buy” and an average price target of $48.12.

AZEK Price Performance

Shares of AZEK stock opened at $46.46 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11. The AZEK Company Inc. has a 1-year low of $30.76 and a 1-year high of $50.78. The firm has a fifty day moving average of $45.00 and a two-hundred day moving average of $44.20. The firm has a market cap of $6.72 billion, a P/E ratio of 41.12, a P/E/G ratio of 1.18 and a beta of 1.88.

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.