Concentric Capital Strategies LP Cuts Position in The AZEK Company Inc. (NYSE:AZEK)

Concentric Capital Strategies LP lessened its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 152,060 shares of the company's stock after selling 21,102 shares during the quarter. Concentric Capital Strategies LP owned approximately 0.11% of AZEK worth $7,218,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Empowered Funds LLC acquired a new stake in AZEK during the 4th quarter worth $27,000. FIL Ltd purchased a new stake in 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% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after acquiring an additional 592 shares during the period. Avalon Trust Co acquired a new position in shares of AZEK in the 4th quarter valued at $38,000. Finally, GAMMA Investing LLC raised its position in AZEK by 39.1% in the 4th 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 last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

AZEK Stock Performance

Shares of NYSE AZEK opened at $49.64 on Wednesday. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a market cap of $7.13 billion, a PE ratio of 50.14, a P/E/G ratio of 1.91 and a beta of 1.86. The stock has a 50 day simple moving average of $46.18 and a 200-day simple moving average of $47.94. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AZEK shares. Loop Capital cut their price target on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Raymond James set a $51.50 target price on shares of AZEK in a research report on Tuesday, March 25th. Stephens downgraded shares of AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Baird R W cut AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling at AZEK

In related news, CEO Jesse G. Singh sold 20,387 shares of AZEK stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the transaction, the chief executive officer now directly owns 883,765 shares of the company's stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

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.

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