The AZEK Company Inc. (NYSE:AZEK) Stock Holdings Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 68.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,992 shares of the company's stock after selling 61,672 shares during the quarter. Hsbc Holdings PLC's holdings in AZEK were worth $1,337,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC purchased a new position in shares of AZEK during the fourth quarter worth about $27,000. FIL Ltd purchased a new stake in shares of AZEK in the fourth quarter valued at about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 in the last quarter. Avalon Trust Co purchased a new position in AZEK in the fourth quarter worth $38,000. Finally, GAMMA Investing LLC increased its holdings in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZEK. William Blair reissued a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. BMO Capital Markets boosted their price target on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, March 24th. Citigroup reiterated a "neutral" rating and set a $51.50 price objective (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Raymond James set a $51.50 target price on AZEK in a research note on Tuesday, March 25th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $53.53.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,387 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $50.08, for a total transaction of $1,020,980.96. Following the sale, the chief executive officer now owns 883,765 shares of the company's stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by insiders.

AZEK Stock Performance

AZEK stock traded down $0.12 during mid-day trading on Tuesday, reaching $49.64. The company's stock had a trading volume of 1,974,306 shares, compared to its average volume of 2,221,427. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The business has a 50 day moving average price of $46.11 and a 200-day moving average price of $47.93. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31.

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 return on equity of 13.47% and a net margin of 9.85%. Sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal 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.