Concentric Capital Strategies LP Sells 21,102 Shares of The AZEK Company Inc. (NYSE:AZEK)

Concentric Capital Strategies LP lessened its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & 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 0.11% of AZEK worth $7,218,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new position in shares of AZEK during the fourth quarter valued at about $27,000. FIL Ltd purchased a new stake in AZEK in the fourth quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in AZEK by 623.2% in 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 period. Avalon Trust Co purchased a new stake in AZEK in the fourth quarter worth about $38,000. Finally, GAMMA Investing LLC grew its holdings in AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company's stock worth $40,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 97.44% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 15,000 shares of AZEK stock in a transaction dated Monday, March 10th. The shares were 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 of the company's stock, valued at approximately $35,645,427.95. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

AZEK Price Performance

AZEK traded up $1.09 during trading on Monday, hitting $51.38. 1,091,930 shares of the company traded hands, compared to its average volume of 2,211,131. The company has a market cap of $7.38 billion, a PE ratio of 51.87, a P/E/G ratio of 1.91 and a beta of 1.86. The stock's 50-day simple moving average is $46.43 and its two-hundred day simple moving average is $48.13. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. 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 EPS for the quarter, topping 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 business had revenue of $452.23 million during the quarter, compared to analysts' expectations of $444.75 million. During the same period last year, the company posted $0.39 EPS. The business's revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZEK has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Raymond James set a $51.50 price target on shares of AZEK in a research report on Tuesday, March 25th. Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, UBS Group decreased their price objective on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $53.93.

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.