Teacher Retirement System of Texas Acquires 8,182 Shares of The AZEK Company Inc. (NYSE:AZEK)

Teacher Retirement System of Texas increased its holdings in The AZEK Company Inc. (NYSE:AZEK) by 18.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,735 shares of the company’s stock after purchasing an additional 8,182 shares during the quarter. Teacher Retirement System of Texas’ holdings in AZEK were worth $2,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AZEK. Wellington Management Group LLP increased its holdings in shares of AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after buying an additional 3,595,863 shares during the period. FMR LLC increased its stake in AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after purchasing an additional 2,497,074 shares during the period. State Street Corp lifted its position in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after purchasing an additional 45,774 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after purchasing an additional 12,644 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after purchasing an additional 90,206 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AZEK. William Blair reissued a “market perform” rating on shares of AZEK in a research report on Monday. Stephens lowered shares of AZEK from an “overweight” rating to a “mixed” rating in a report on Monday. Baird R W downgraded AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group lifted their price objective on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird restated a “neutral” rating and set a $53.00 target price (down previously from $58.00) on shares of AZEK in a report on Monday. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.32.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the transaction, the chief executive officer now owns 904,152 shares in the company, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 55,000 shares of company stock worth $2,518,624 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

AZEK Trading Down 0.1 %

NYSE:AZEK opened at $48.96 on Thursday. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company’s 50-day simple moving average is $47.41 and its 200 day simple moving average is $47.30. The firm has a market capitalization of $7.03 billion, a P/E ratio of 49.45, a PEG ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, analysts forecast 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.