Two Sigma Advisers LP Sells 177,700 Shares of The AZEK Company Inc. (NYSE:AZEK)

Two Sigma Advisers LP decreased its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 77.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,500 shares of the company's stock after selling 177,700 shares during the period. Two Sigma Advisers LP's holdings in AZEK were worth $2,397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after purchasing an additional 54,725 shares during the last quarter. FMR LLC grew its holdings in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock worth $584,431,000 after purchasing an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after purchasing an additional 429,574 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of AZEK by 11.6% in the fourth quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock worth $98,928,000 after purchasing an additional 216,849 shares during the last quarter. Finally, Norges Bank bought a new position in shares of AZEK in the fourth quarter worth approximately $94,987,000. Institutional investors own 97.44% of the company's stock.

Analysts Set New Price Targets

AZEK has been the topic of several recent analyst reports. Citigroup restated a "neutral" rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. UBS Group cut their target price on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Baird R W cut shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Loop Capital cut their target price on shares of AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Finally, William Blair reiterated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $53.93.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 852,765 shares in the company, valued at $43,832,121. The trade was a 2.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company's stock.

AZEK Stock Up 2.0%

Shares of NYSE:AZEK traded up $0.98 during midday trading on Monday, reaching $50.49. The company's stock had a trading volume of 8,000,275 shares, compared to its average volume of 2,323,515. The firm has a 50 day moving average of $48.72 and a 200-day moving average of $48.67. The firm has a market capitalization of $7.26 billion, a P/E ratio of 50.99, a PEG ratio of 1.91 and a beta of 1.86. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.01. The firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

AZEK 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.