The Manufacturers Life Insurance Company Has $33.68 Million Position in The AZEK Company Inc. (NYSE:AZEK)

The Manufacturers Life Insurance Company increased its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 38.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,568 shares of the company’s stock after purchasing an additional 200,746 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.50% of AZEK worth $33,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Equitable Trust Co. boosted its stake in shares of AZEK by 2.2% during the third quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock valued at $484,000 after purchasing an additional 226 shares in the last quarter. Tidal Investments LLC boosted its position in AZEK by 3.7% during the 1st quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock worth $355,000 after buying an additional 251 shares during the period. Creative Planning grew its holdings in AZEK by 6.6% during the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock worth $327,000 after acquiring an additional 430 shares during the last quarter. Covestor Ltd increased its position in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $129,000 after acquiring an additional 436 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock valued at $44,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on AZEK shares. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Thursday, November 21st. Royal Bank of Canada increased their price target on AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Barclays increased their target price on shares of AZEK from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a research report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.82.

AZEK Price Performance

AZEK stock opened at $53.12 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14. The company’s 50-day moving average is $45.99 and its 200-day moving average is $44.49. The stock has a market capitalization of $7.60 billion, a PE ratio of 50.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.88. The AZEK Company Inc. has a 1 year low of $33.14 and a 1 year high of $54.16.

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.