Federated Hermes Inc. Acquires 1,940 Shares of The AZEK Company Inc. (NYSE:AZEK)

Federated Hermes Inc. raised its stake in The AZEK Company Inc. (NYSE:AZEK) by 80.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,353 shares of the company’s stock after buying an additional 1,940 shares during the quarter. Federated Hermes Inc.’s holdings in AZEK were worth $167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AZEK by 10.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,970 shares of the company’s stock valued at $1,146,000 after acquiring an additional 2,872 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of AZEK in the fourth quarter valued at about $371,000. Lecap Asset Management Ltd. acquired a new position in shares of AZEK during the fourth quarter worth about $1,134,000. WCM Investment Management LLC grew its holdings in shares of AZEK by 2.2% during the fourth quarter. WCM Investment Management LLC now owns 669,007 shares of the company’s stock worth $25,857,000 after buying an additional 14,395 shares in the last quarter. Finally, Redwood Investments LLC acquired a new stake in AZEK in the 4th quarter valued at approximately $2,893,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $48.30, for a total transaction of $627,900.00. Following the sale, the chief executive officer now owns 1,083,444 shares of the company’s stock, valued at $52,330,345.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AZEK news, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now owns 23,544 shares in the company, valued at approximately $1,164,721.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $48.30, for a total value of $627,900.00. Following the completion of the transaction, the chief executive officer now directly owns 1,083,444 shares of the company’s stock, valued at $52,330,345.20. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock valued at $6,356,622 in the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on AZEK shares. Robert W. Baird upped their price target on AZEK from $52.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. BMO Capital Markets increased their price target on AZEK from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. TheStreet raised shares of AZEK from a “c+” rating to a “b-” rating in a research report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Finally, Truist Financial raised their target price on shares of AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and an average price target of $44.94.

AZEK Trading Up 1.7 %

Shares of AZEK stock opened at $46.52 on Monday. The AZEK Company Inc. has a twelve month low of $23.08 and a twelve month high of $50.78. 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 business’s 50 day moving average is $47.87 and its two-hundred day moving average is $39.86. The company has a market capitalization of $6.87 billion, a P/E ratio of 58.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.93.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.05. The company had revenue of $240.44 million for the quarter, compared to analysts’ expectations of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. Equities analysts forecast that The AZEK Company Inc. will post 1.03 EPS for the current year.

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.