The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 23.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,847 shares of the company's stock after selling 193,765 shares during the period. Nuveen Asset Management LLC owned 0.44% of AZEK worth $29,614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AZEK. Truist Financial Corp lifted its position in AZEK by 1.6% during the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company's stock worth $793,000 after acquiring an additional 255 shares during the period. Investment House LLC lifted its position in AZEK by 0.7% during the 4th quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after acquiring an additional 290 shares during the period. Federated Hermes Inc. lifted its position in AZEK by 4.8% during the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock worth $332,000 after acquiring an additional 318 shares during the period. Smartleaf Asset Management LLC lifted its position in AZEK by 13.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after acquiring an additional 352 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its position in AZEK by 4.9% during the 4th quarter. Integrated Wealth Concepts LLC now owns 8,171 shares of the company's stock worth $388,000 after acquiring an additional 379 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was 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 $35,645,427.95. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.20% of the company's stock.

AZEK Trading Down 1.8%

Shares of AZEK stock opened at $49.91 on Thursday. The firm has a 50-day simple moving average of $47.90 and a two-hundred day simple moving average of $48.47. The company has a market cap of $7.18 billion, a P/E ratio of 50.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results 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 return on equity of 13.47% and a net margin of 9.85%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. As a group, equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group lowered their price target on AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Stephens reduced their target price on shares of AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Citigroup restated a "neutral" rating and set a $51.50 target price (down from $61.00) 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, William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Ten investment 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, the company currently has a consensus rating of "Hold" and an average price target of $53.93.

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.

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