KBC Group NV Lowers Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

KBC Group NV cut its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,342 shares of the company's stock after selling 5,265 shares during the quarter. KBC Group NV's holdings in AZEK were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FIL Ltd bought a new stake in shares of AZEK in the 4th quarter worth $28,000. NBC Securities Inc. bought a new stake in shares of AZEK in the 1st quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 worth $33,000 after acquiring an additional 592 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after acquiring an additional 494 shares in the last quarter. Finally, Avalon Trust Co bought a new stake in shares of AZEK in the 4th quarter worth $38,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZEK has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Stephens decreased their price target 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. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Citigroup reaffirmed a "neutral" rating and set a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Raymond James Financial set a $51.50 price target on AZEK in a research report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, AZEK has a consensus rating of "Hold" and a consensus target price of $53.93.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on 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 completion of the sale, the chief executive officer owned 852,765 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

AZEK Stock Performance

Shares of AZEK stock remained flat at $54.35 during trading hours on Wednesday. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The business has a 50-day moving average of $51.83 and a 200 day moving average of $48.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.47. The company has a market capitalization of $7.82 billion, a PE ratio of 53.28 and a beta of 1.82.

AZEK (NYSE:AZEK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal 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.