UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,238,576 shares of the company's stock after selling 680,771 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.57% of AZEK worth $106,265,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZEK. Empowered Funds LLC purchased a new position in shares of AZEK during the fourth quarter worth approximately $27,000. FIL Ltd purchased a new position in AZEK during the fourth quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in AZEK by 623.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after buying an additional 592 shares during the last quarter. Avalon Trust Co acquired a new stake in shares of AZEK during the fourth quarter worth $38,000. Finally, Blue Trust Inc. lifted its stake in shares of AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock worth $85,000 after buying an additional 877 shares during the period. 97.44% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at AZEK
In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the completion of the transaction, the chief executive officer now owns 868,765 shares of the company's stock, valued at $35,645,427.95. This trade represents a 1.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on AZEK shares. UBS Group decreased their target price on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Citigroup reaffirmed a "neutral" rating and issued a $51.50 price objective (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Loop Capital cut their price objective on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Barclays boosted their target price on shares of AZEK from $53.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.93.
Check Out Our Latest Report on AZEK
AZEK Trading Up 1.6%
NYSE:AZEK traded up $0.78 on Thursday, hitting $48.78. The stock had a trading volume of 1,910,363 shares, compared to its average volume of 2,269,646. 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 stock has a market cap of $7.02 billion, a price-to-earnings ratio of 49.26, a PEG ratio of 1.91 and a beta of 1.86. The company has a fifty day moving average price of $48.67 and a two-hundred day moving average price of $48.59. 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 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 9.85% and a return on equity of 13.47%. The firm had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the prior year, the business posted $0.39 EPS. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.
AZEK Profile
(
Free Report)
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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