abrdn plc Cuts Stake in The AZEK Company Inc. (NYSE:AZEK)

abrdn plc lessened its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 641,496 shares of the company's stock after selling 162,494 shares during the quarter. abrdn plc owned approximately 0.43% of AZEK worth $24,537,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Redwood Investments LLC bought a new position in AZEK during the 4th quarter worth approximately $2,893,000. Lecap Asset Management Ltd. acquired a new stake in AZEK during the 4th quarter worth approximately $1,134,000. Sherbrooke Park Advisers LLC raised its holdings in AZEK by 62.8% during the 3rd quarter. Sherbrooke Park Advisers LLC now owns 42,923 shares of the company's stock worth $1,277,000 after buying an additional 16,565 shares during the period. Vanguard Group Inc. raised its holdings in AZEK by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company's stock worth $386,989,000 after buying an additional 881,697 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in AZEK during the 3rd quarter worth approximately $1,731,000. Institutional investors own 97.44% of the company's stock.

Wall Street Analyst Weigh In

AZEK has been the topic of several research analyst reports. Benchmark began coverage on shares of AZEK in a report on Friday, April 19th. They set a "buy" rating and a $55.00 target price on the stock. Truist Financial lifted their price objective on shares of AZEK from $40.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. Citigroup lifted their price objective on shares of AZEK from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, April 5th. TheStreet upgraded shares of AZEK from a "c+" rating to a "b-" rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus lifted their price objective on shares of AZEK from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.11.

AZEK Price Performance

AZEK stock traded down $1.00 during midday trading on Wednesday, reaching $45.36. The company had a trading volume of 875,168 shares, compared to its average volume of 1,476,481. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 57.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.92. The stock has a 50 day moving average price of $47.81 and a 200-day moving average price of $38.97. The AZEK Company Inc. has a 1-year low of $23.08 and a 1-year high of $50.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67.

AZEK (NYSE:AZEK - Get Free Report) last posted its earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.05. The firm had revenue of $240.44 million during the quarter, compared to analysts' expectations of $234.12 million. AZEK had a net margin of 8.57% and a return on equity of 9.61%. Equities research analysts expect that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jesse G. Singh sold 13,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the sale, the insider now directly owns 23,544 shares of the company's stock, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. Insiders sold a total of 130,431 shares of company stock worth $6,356,622 in the last quarter. 3.10% of the stock is owned by insiders.

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.