WCM Investment Management LLC Has $24.45 Million Position in The AZEK Company Inc. (NYSE:AZEK)

WCM Investment Management LLC lessened its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 492,391 shares of the company's stock after selling 29,921 shares during the period. WCM Investment Management LLC owned about 0.34% of AZEK worth $24,447,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. FIL Ltd acquired a new stake in AZEK during the 4th quarter valued at $28,000. NBC Securities Inc. acquired a new stake in shares of AZEK in the first quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock valued at $33,000 after buying an additional 592 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of AZEK by 261.4% in the first quarter. Parallel Advisors LLC now owns 683 shares of the company's stock valued at $33,000 after buying an additional 494 shares during the last quarter. Finally, Avalon Trust Co acquired a new position in AZEK during the 4th quarter worth about $38,000. Institutional investors own 97.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of AZEK in a research note on Wednesday, March 26th. William Blair restated a "market perform" rating on shares of AZEK in a research report on Monday, March 24th. Loop Capital reduced their price objective on AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Citigroup reissued a "neutral" rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Robert W. Baird upped their price target on AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $53.93.

Insider Activity

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the firm's stock in a transaction that occurred 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 approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

AZEK Price Performance

AZEK stock remained flat at $54.35 during midday trading on Friday. The firm has a market capitalization of $7.82 billion, a PE ratio of 53.28 and a beta of 1.82. The firm has a 50 day moving average of $51.53 and a 200-day moving average of $48.87. The company has a quick ratio of 1.47, a current ratio of 2.45 and a debt-to-equity ratio of 0.29. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly 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. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The company had revenue of $452.23 million for the quarter, compared to analysts' expectations of $444.75 million. During the same period last year, the firm posted $0.39 earnings per share. The business's quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.