Norden Group LLC Acquires 496 Shares of The AZEK Company Inc. (NYSE:AZEK)

Norden Group LLC lifted its stake in The AZEK Company Inc. (NYSE:AZEK) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,204 shares of the company’s stock after purchasing an additional 496 shares during the period. Norden Group LLC’s holdings in AZEK were worth $1,007,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Creative Planning boosted its holdings in AZEK by 6.6% during the third quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after buying an additional 430 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of AZEK in the 3rd quarter valued at approximately $243,000. Farther Finance Advisors LLC boosted its stake in AZEK by 183.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock worth $35,000 after acquiring an additional 487 shares during the last quarter. Portside Wealth Group LLC bought a new position in AZEK during the 3rd quarter worth approximately $241,000. Finally, AIA Group Ltd grew its holdings in AZEK by 5.7% during the third quarter. AIA Group Ltd now owns 40,800 shares of the company’s stock valued at $1,909,000 after purchasing an additional 2,200 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction 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 directly owns 883,765 shares of the company’s stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction dated Tuesday, December 17th. The shares were 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 trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,709 shares of company stock worth $3,060,151 in the last three months. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AZEK shares. Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets raised their price objective on AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research note on Thursday, February 6th. Robert W. Baird increased their price target on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Royal Bank of Canada raised their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $60.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Trading Up 2.2 %

NYSE:AZEK opened at $46.85 on Monday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market cap of $6.73 billion, a P/E ratio of 47.32, a price-to-earnings-growth ratio of 1.91 and a beta of 1.94. The business has a 50 day moving average price of $48.97 and a two-hundred day moving average price of $47.16.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share 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%. As a group, analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

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.