Wellington Management Group LLP Sells 911,378 Shares of The AZEK Company Inc. (NYSE:AZEK)

Wellington Management Group LLP decreased its position in The AZEK Company Inc. (NYSE:AZEK) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,313,032 shares of the company’s stock after selling 911,378 shares during the quarter. Wellington Management Group LLP owned 0.09% of AZEK worth $631,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of AZEK. Empowered Funds LLC bought a new stake in AZEK in the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased 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 worth $33,000 after buying an additional 592 shares during the period. Avalon Trust Co bought a new stake in shares of AZEK in the 4th quarter valued at about $38,000. GAMMA Investing LLC boosted its holdings in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK during the 3rd quarter worth approximately $59,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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 1.6 %

NYSE:AZEK opened at $48.86 on Tuesday. 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 $47.38 and its 200 day simple moving average is $47.50. The firm has a market capitalization of $7.02 billion, a P/E ratio of 49.35, 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 data 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 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup reissued a “neutral” rating and set a $51.50 price target (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. William Blair restated a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. Finally, Royal Bank of Canada increased their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $54.32.

AZEK 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.