Ameriprise Financial Inc. Sells 15,401 Shares of The AZEK Company Inc. (NYSE:AZEK)

Ameriprise Financial Inc. lessened its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,215,637 shares of the company's stock after selling 15,401 shares during the quarter. Ameriprise Financial Inc. owned 0.85% of AZEK worth $57,712,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of AZEK during the fourth quarter worth about $27,000. FIL Ltd acquired a new position in shares of AZEK in the fourth quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after purchasing an additional 592 shares during the last quarter. Avalon Trust Co purchased a new stake in AZEK during the fourth quarter valued at about $38,000. Finally, GAMMA Investing LLC raised its position in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AZEK. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Stephens cut their price objective on AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Loop Capital decreased their price target on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Robert W. Baird upped their price objective on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, UBS Group dropped their price objective on AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, AZEK presently has a consensus rating of "Hold" and a consensus price target of $53.93.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. The trade was a 1.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.20% of the company's stock.

AZEK Stock Performance

Shares of NYSE AZEK traded up $0.42 during trading hours on Tuesday, hitting $51.91. 2,295,301 shares of the stock were exchanged, compared to its average volume of 2,214,205. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The firm has a market capitalization of $7.46 billion, a P/E ratio of 52.43, a P/E/G ratio of 1.91 and a beta of 1.86. The company's 50 day moving average is $46.68 and its 200 day moving average is $48.22. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. On average, research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.