Impax Asset Management Group plc lessened its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,376,510 shares of the company's stock after selling 160,666 shares during the quarter. Impax Asset Management Group plc owned about 0.96% of AZEK worth $66,444,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd acquired a new stake in AZEK in the 4th quarter valued at about $28,000. NBC Securities Inc. acquired a new stake in AZEK in the 1st quarter valued at about $29,000. Parallel Advisors LLC increased its position in AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company's stock valued at $33,000 after acquiring an additional 494 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after purchasing an additional 592 shares during the last quarter. Finally, Avalon Trust Co bought a new position in shares of AZEK in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 97.44% of the company's stock.
AZEK Stock Performance
AZEK remained flat at $54.35 during trading on Monday. 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 52 week low of $35.48 and a 52 week high of $54.91. The stock has a fifty day moving average of $51.63 and a 200 day moving average of $48.91. The company has a market cap of $7.82 billion, a PE ratio of 53.28 and a beta of 1.82.
AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results 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 9.92% and a return on equity of 13.87%. The firm had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. 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 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the chief executive officer directly owned 852,765 shares in the company, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company's stock.
Wall Street Analyst Weigh In
AZEK has been the topic of several recent research reports. UBS Group reduced their target price 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 reaffirmed a "neutral" rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Baird R W lowered shares of AZEK from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Finally, Loop Capital reduced their target price on shares of AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.93.
Get 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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