Wellington Management Group LLP Buys 3,595,863 Shares of The AZEK Company Inc. (NYSE:AZEK)

Wellington Management Group LLP increased its position in The AZEK Company Inc. (NYSE:AZEK) by 33.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,224,410 shares of the company’s stock after acquiring an additional 3,595,863 shares during the quarter. Wellington Management Group LLP owned about 0.10% of AZEK worth $665,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of AZEK in the 2nd quarter worth $86,719,000. Interval Partners LP lifted its stake in shares of AZEK by 162.4% during the 2nd quarter. Interval Partners LP now owns 742,749 shares of the company’s stock worth $31,292,000 after purchasing an additional 459,664 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in AZEK by 73.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after purchasing an additional 425,609 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in AZEK by 136.0% in the second quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock valued at $26,763,000 after purchasing an additional 366,025 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

AZEK Price Performance

NYSE:AZEK opened at $54.21 on Friday. The company has a 50 day moving average price of $46.85 and a 200-day moving average price of $44.78. The AZEK Company Inc. has a 1-year low of $34.02 and a 1-year high of $54.69. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of 52.12, a price-to-earnings-growth ratio of 2.36 and a beta of 1.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.17 and a quick ratio of 1.14.

Wall Street Analyst Weigh In

A number of research firms recently commented on AZEK. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of AZEK in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their price objective on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Robert W. Baird boosted their target price on AZEK from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 20th. 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. Finally, Truist Financial boosted their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.82.

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.