Artemis Investment Management LLP reduced its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,368 shares of the company's stock after selling 311,689 shares during the period. Artemis Investment Management LLP owned approximately 0.24% of AZEK worth $17,081,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in AZEK. FIL Ltd acquired a new position in shares of AZEK in the fourth quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in AZEK in the first quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after buying an additional 592 shares during the period. Parallel Advisors LLC increased its holdings in AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after buying an additional 494 shares during the period. Finally, Avalon Trust Co acquired a new stake in AZEK during the 4th quarter valued at approximately $38,000. 97.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Jesse G. Singh sold 20,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the transaction, the chief executive officer now owns 852,765 shares of the company's stock, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by company insiders.
AZEK Stock Down 1.1%
NYSE AZEK traded down $0.59 during trading on Monday, reaching $54.27. 24,463,215 shares of the company's stock were exchanged, compared to its average volume of 2,530,274. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $55.50. The stock has a market cap of $7.81 billion, a P/E ratio of 53.21 and a beta of 1.82. The company has a 50 day moving average price of $50.91 and a two-hundred day moving average price of $48.77.
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, topping the consensus estimate of $0.44 by $0.01. The business had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The company's revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities research analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.
Wall Street Analyst Weigh In
AZEK has been the subject of a number of recent research reports. Stephens reduced their price objective on AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. UBS Group dropped their price objective on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Citigroup restated a "neutral" rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, BMO Capital Markets raised their price objective on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, AZEK has a consensus rating of "Hold" and an average target price of $53.93.
Read Our Latest Stock Report on AZEK
About AZEK
(
Free Report)
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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