KBC Group NV Sells 5,265 Shares of The AZEK Company Inc. (NYSE:AZEK)

KBC Group NV decreased its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 45.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FIL Ltd purchased a new position in shares of AZEK during the fourth quarter worth about $28,000. NBC Securities Inc. purchased a new position in shares of AZEK during the first quarter worth about $29,000. Parallel Advisors LLC grew its holdings in shares of AZEK by 261.4% during the first quarter. Parallel Advisors LLC now owns 683 shares of the company's stock worth $33,000 after purchasing an additional 494 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of AZEK by 623.2% during 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 in the last quarter. Finally, Avalon Trust Co purchased a new position in shares of AZEK during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Price Performance

Shares of AZEK stock remained flat at $54.35 during midday trading on Tuesday. 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 stock has a market capitalization of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82. The firm's 50 day moving average is $51.63 and its two-hundred day moving average is $48.91. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

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 the consensus estimate of $0.44 by $0.01. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The business had revenue of $452.23 million during the quarter, compared to analyst estimates of $444.75 million. During the same period in the prior year, the business earned $0.39 EPS. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 852,765 shares in the company, valued at approximately $43,832,121. This represents a 2.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

AZEK has been the subject of a number of recent research reports. Barclays boosted their target price on AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Baird R W downgraded AZEK from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Stephens dropped their target price 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. Finally, Robert W. Baird boosted their target price on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating 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 company's stock. Based on data from MarketBeat.com, AZEK currently has a consensus rating of "Hold" and an average target price of $53.93.

About AZEK

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.