Sea Cliff Partners Management LP Sells 52,478 Shares of The AZEK Company Inc. (NYSE:AZEK)

Sea Cliff Partners Management LP decreased its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 480,000 shares of the company's stock after selling 52,478 shares during the period. AZEK makes up about 7.9% of Sea Cliff Partners Management LP's portfolio, making the stock its 5th biggest holding. Sea Cliff Partners Management LP owned about 0.34% of AZEK worth $22,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZEK. Vanguard Group Inc. grew its holdings in AZEK by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company's stock worth $685,032,000 after acquiring an additional 54,725 shares during the period. FMR LLC boosted its stake in shares of AZEK by 80.7% in the fourth quarter. FMR LLC now owns 12,311,577 shares of the company's stock worth $584,431,000 after acquiring an additional 5,499,986 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock worth $156,396,000 after acquiring an additional 429,574 shares during the last quarter. Wasatch Advisors LP grew its position in shares of AZEK by 11.6% in the fourth quarter. Wasatch Advisors LP now owns 2,084,014 shares of the company's stock valued at $98,928,000 after purchasing an additional 216,849 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AZEK in the fourth quarter valued at approximately $94,987,000. Hedge funds and other institutional investors own 97.44% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AZEK shares. Citigroup restated a "neutral" rating and issued a $51.50 price target (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Loop Capital decreased 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. Wolfe Research restated a "peer perform" rating on shares of AZEK in a research report on Wednesday, March 26th. Stephens reduced their target price on AZEK from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, BMO Capital Markets lifted their target price on AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $53.93.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now owns 868,765 shares of the company's stock, valued at approximately $35,645,427.95. This trade represents a 1.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company's stock.

AZEK Stock Down 0.8%

AZEK stock traded down $0.42 during mid-day trading on Tuesday, reaching $50.82. The company had a trading volume of 2,967,185 shares, compared to its average volume of 2,228,853. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 51.33, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The firm has a fifty day simple moving average of $47.50 and a 200 day simple moving average of $48.45. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last posted 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 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter last year, the company earned $0.39 EPS. AZEK's revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share 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.