The AZEK Company Inc. (NYSE:AZEK) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 5.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 492,391 shares of the company's stock after selling 29,921 shares during the quarter. WCM Investment Management LLC owned about 0.34% of AZEK worth $24,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Investment House LLC lifted its stake in AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after purchasing an additional 290 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock valued at $332,000 after buying an additional 318 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of AZEK by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock valued at $146,000 after buying an additional 352 shares during the period. Integrated Wealth Concepts LLC lifted its stake 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 in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in AZEK by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 63,125 shares of the company's stock valued at $2,997,000 after acquiring an additional 400 shares during the period. 97.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on 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 sale, the chief executive officer directly owned 852,765 shares in the company, valued at $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company's stock.

AZEK Stock Performance

Shares of NYSE:AZEK remained flat at $54.35 on Wednesday. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a market cap of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82. The company has a current ratio of 2.45, a quick ratio of 1.47 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $51.21 and a two-hundred day simple moving average of $48.81.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.01. AZEK had a return on equity of 13.87% and a net margin of 9.92%. The firm had revenue of $452.23 million during the quarter, compared to the consensus estimate of $444.75 million. During the same period in the prior year, the company posted $0.39 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZEK has been the topic of a number of recent research reports. William Blair reiterated a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Raymond James Financial set a $51.50 target price on shares of AZEK in a research note on Tuesday, March 25th. UBS Group reduced 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. BMO Capital Markets boosted their price target on shares of AZEK from $54.00 to $57.00 and gave the stock a "market perform" rating in a research note on Monday, March 24th. Finally, Robert W. Baird upped their price objective on AZEK from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.