The AZEK Company Inc. (NYSE:AZEK) Position Reduced by Sea Cliff Partners Management LP

Sea Cliff Partners Management LP cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 480,000 shares of the company's stock after selling 52,478 shares during the quarter. AZEK makes up about 7.9% of Sea Cliff Partners Management LP's portfolio, making the stock its 5th largest position. Sea Cliff Partners Management LP owned approximately 0.34% of AZEK worth $22,786,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AZEK. Truist Financial Corp grew its stake in AZEK by 1.6% during the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after acquiring an additional 255 shares in the last quarter. Investment House LLC grew its stake in AZEK by 0.7% in the 4th quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after buying an additional 290 shares in the last quarter. Federated Hermes Inc. grew its stake in AZEK by 4.8% in the 4th quarter. Federated Hermes Inc. now owns 6,984 shares of the company's stock worth $332,000 after buying an additional 318 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in AZEK by 13.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after buying an additional 352 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of AZEK by 4.9% in 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 during the last quarter. 97.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AZEK has been the subject of a number of recent research reports. Loop Capital lowered their price objective on shares of AZEK from $55.00 to $49.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Stephens lowered their price objective on shares of AZEK from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. UBS Group lowered their price objective on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. William Blair restated a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Finally, BMO Capital Markets upped their price target on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a report on Monday, March 24th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.93.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the chief executive officer now owns 852,765 shares in the company, valued at approximately $43,832,121. The trade was a 2.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company's stock.

AZEK Stock Down 0.4%

AZEK stock traded down $0.19 during trading hours on Thursday, reaching $49.68. The stock had a trading volume of 318,343 shares, compared to its average volume of 2,235,950. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The business's 50 day moving average price is $47.90 and its 200-day moving average price is $48.47. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last issued 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%. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company's revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that The AZEK Company Inc. will post 1.34 EPS 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.