Ares Management LLC Lowers Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Ares Management LLC lowered its holdings in The AZEK Company Inc. (NYSE:AZEK) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,096,090 shares of the company’s stock after selling 8,625,000 shares during the quarter. The AZEK accounts for about 28.7% of Ares Management LLC’s investment portfolio, making the stock its 2nd biggest position. Ares Management LLC owned about 12.34% of The AZEK worth $810,820,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AZEK. KB Financial Partners LLC acquired a new position in The AZEK in the first quarter valued at about $47,000. Bank of Montreal Can boosted its holdings in shares of The AZEK by 11,100.0% in the 1st quarter. Bank of Montreal Can now owns 1,904 shares of the company’s stock worth $87,000 after acquiring an additional 1,887 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in The AZEK during the 1st quarter worth approximately $113,000. Acadian Asset Management LLC acquired a new stake in The AZEK during the 1st quarter valued at $123,000. Finally, Belpointe Asset Management LLC increased its holdings in The AZEK by 27.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 3,745 shares of the company’s stock valued at $159,000 after purchasing an additional 805 shares in the last quarter. Hedge funds and other institutional investors own 94.31% of the company’s stock.

AZEK has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of The AZEK from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, August 13th. Zacks Investment Research cut The AZEK from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to, The AZEK currently has a consensus rating of “Buy” and a consensus target price of $47.82.

In related news, insider Joe Ochoa sold 20,000 shares of the business’s stock in a transaction on Friday, September 17th. The shares were sold at an average price of $38.67, for a total transaction of $773,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Howard C. Heckes bought 2,500 shares of the stock in a transaction that occurred on Monday, August 16th. The shares were purchased at an average price of $41.00 per share, for a total transaction of $102,500.00. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

AZEK stock traded up $1.36 during mid-day trading on Thursday, hitting $35.49. 12,104 shares of the company were exchanged, compared to its average volume of 1,182,305. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.34 and a current ratio of 3.59. The firm has a market cap of $5.50 billion, a P/E ratio of -438.45 and a beta of 1.64. The firm’s 50 day simple moving average is $39.22 and its 200 day simple moving average is $41.51. The AZEK Company Inc. has a 1-year low of $32.93 and a 1-year high of $51.32.

The AZEK (NYSE:AZEK) last announced its earnings results on Wednesday, August 11th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $327.45 million for the quarter, compared to the consensus estimate of $293.51 million. The AZEK had a negative net margin of 0.89% and a positive return on equity of 10.02%. On average, equities research analysts predict that The AZEK Company Inc. will post 0.79 EPS for the current fiscal year.

The AZEK Company Profile

The AZEK Company Inc engages in designing, manufacturing, and selling building products for residential and commercial markets in the United States. The company operates through Residential and Commercial segments. Its products include decks, rails, trims, accessories, and specialty exteriors; and partitions, lockers, and polymer solutions.

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Institutional Ownership by Quarter for The AZEK (NYSE:AZEK)

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