Bessemer Group Inc. Grows Stake in The AZEK Company Inc. (NYSE:AZEK)

Bessemer Group Inc. raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,533 shares of the company’s stock after purchasing an additional 8,992 shares during the period. Bessemer Group Inc. owned 0.19% of AZEK worth $13,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its holdings in AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during the period. JPMorgan Chase & Co. increased its position in AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after acquiring an additional 90,206 shares during the last quarter. Stifel Financial Corp raised its stake in shares of AZEK by 24.7% in the third quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock valued at $1,052,000 after acquiring an additional 4,454 shares during the period. Blue Trust Inc. lifted its holdings in shares of AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after acquiring an additional 877 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AZEK by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company’s stock worth $55,519,000 after purchasing an additional 24,249 shares during the period. 97.44% of the stock is owned by institutional investors.

AZEK Price Performance

Shares of AZEK opened at $46.28 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 company has a 50 day moving average price of $46.46 and a 200-day moving average price of $47.53. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The stock has a market capitalization of $6.65 billion, a PE ratio of 46.74, a PEG ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last posted 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%. Equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on AZEK shares. Royal Bank of Canada raised their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. The Goldman Sachs Group raised their price target on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research report on Monday, March 24th. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Stephens lowered shares of AZEK from an “overweight” rating to a “mixed” rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.40.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the sale, the chief executive officer now owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.