Two Sigma Investments LP Lowers Position in The AZEK Company Inc. (NYSE:AZEK)

Two Sigma Investments LP reduced its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 67.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,661 shares of the company's stock after selling 80,726 shares during the period. Two Sigma Investments LP's holdings in AZEK were worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Tabor Asset Management LP bought a new stake in AZEK during the fourth quarter valued at approximately $2,289,000. Tidal Investments LLC grew its position in AZEK by 4,255.1% during the fourth quarter. Tidal Investments LLC now owns 461,076 shares of the company's stock valued at $21,887,000 after buying an additional 450,489 shares during the period. Shay Capital LLC bought a new stake in AZEK during the fourth quarter valued at approximately $294,000. Royal Bank of Canada lifted its holdings in AZEK by 7.9% during the fourth quarter. Royal Bank of Canada now owns 341,405 shares of the company's stock valued at $16,206,000 after purchasing an additional 25,117 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in AZEK by 28.3% during the fourth quarter. Rafferty Asset Management LLC now owns 42,021 shares of the company's stock valued at $1,995,000 after purchasing an additional 9,263 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Performance

NYSE AZEK traded up $0.82 on Wednesday, hitting $52.63. 3,430,137 shares of the company's stock traded hands, compared to its average volume of 2,352,833. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.57 billion, a PE ratio of 53.16, a P/E/G ratio of 1.91 and a beta of 1.82. The firm's 50-day moving average price is $48.76 and its two-hundred day moving average price is $48.69. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 net margin of 9.85% and a return on equity of 13.47%. The business's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. As a group, analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AZEK shares. Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Citigroup reaffirmed a "neutral" rating and set a $51.50 price target (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Barclays boosted their target price on shares of AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Raymond James set a $51.50 target price on shares of AZEK in a report on Tuesday, March 25th. Finally, Stephens lowered their target price on shares of AZEK from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, AZEK presently has an average rating of "Hold" and a consensus target price of $53.93.

Insider Transactions at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the transaction, the chief executive officer now owns 852,765 shares of the company's stock, valued at $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company's stock.

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.