9,100 Shares in The AZEK Company Inc. (NYSE:AZEK) Bought by Polymer Capital Management US LLC

Polymer Capital Management US LLC purchased a new stake in shares of The AZEK Company Inc. (NYSE:AZEK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,100 shares of the company’s stock, valued at approximately $432,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of AZEK during the fourth quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares in the last quarter. Avalon Trust Co bought a new position in shares of AZEK during the 4th quarter valued at approximately $38,000. GAMMA Investing LLC boosted its position in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after buying an additional 239 shares during the period. Finally, Blue Trust Inc. increased its position in shares of AZEK by 94.2% during the fourth 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 period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Baird R W downgraded shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. Citigroup restated a “neutral” rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. The Goldman Sachs Group increased their price objective on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays lifted their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $54.32.

AZEK Price Performance

NYSE:AZEK opened at $46.25 on Monday. 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 AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 46.72, a P/E/G ratio of 1.91 and a beta of 1.86. The firm’s 50-day simple moving average is $47.18 and its 200 day simple moving average is $47.59.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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, sell-side analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,387 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 55,000 shares of company stock worth $2,518,624. 3.20% of the stock is currently owned by insiders.

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.