Mairs & Power Inc. Sells 20,560 Shares of The AZEK Company Inc. (NYSE:AZEK)

Mairs & Power Inc. cut its stake in The AZEK Company Inc. (NYSE:AZEK) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,353 shares of the company’s stock after selling 20,560 shares during the quarter. Mairs & Power Inc. owned about 0.26% of AZEK worth $14,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after buying an additional 881,697 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of AZEK by 7.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,632,693 shares of the company’s stock valued at $291,951,000 after purchasing an additional 516,523 shares during the period. Invesco Ltd. boosted its position in shares of AZEK by 46.3% during the third quarter. Invesco Ltd. now owns 2,697,856 shares of the company’s stock valued at $80,234,000 after purchasing an additional 853,656 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in AZEK by 11.3% in the third quarter. Loomis Sayles & Co. L P now owns 2,428,049 shares of the company’s stock worth $72,210,000 after purchasing an additional 246,212 shares in the last quarter. Finally, FMR LLC lifted its position in AZEK by 54.2% during the third quarter. FMR LLC now owns 2,348,478 shares of the company’s stock valued at $69,844,000 after buying an additional 825,683 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZEK has been the subject of several research reports. Barclays increased their price target on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Citigroup lifted their target price on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Robert W. Baird cut their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, Benchmark began coverage on AZEK in a report on Friday, April 19th. They issued a “buy” rating and a $55.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

AZEK Stock Performance

AZEK stock traded up $2.65 during trading on Wednesday, reaching $47.79. The stock had a trading volume of 1,652,696 shares, compared to its average volume of 1,553,439. The firm has a market cap of $7.06 billion, a PE ratio of 60.33, a PEG ratio of 1.41 and a beta of 1.91. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $46.52 and its two-hundred day moving average is $43.37. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

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.