Granite Investment Partners LLC Sells 14,003 Shares of The AZEK Company Inc. (NYSE:AZEK)

Granite Investment Partners LLC reduced its position in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 354,572 shares of the company's stock after selling 14,003 shares during the quarter. Granite Investment Partners LLC owned approximately 0.25% of AZEK worth $16,832,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in AZEK by 0.4% during the 4th 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 increased its holdings in 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 purchasing an additional 5,499,986 shares in the last quarter. Alliancebernstein L.P. lifted its stake in AZEK by 15.0% in the fourth quarter. Alliancebernstein L.P. now owns 3,294,619 shares of the company's stock valued at $156,396,000 after buying an additional 429,574 shares during the period. State Street Corp grew its position in shares of AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company's stock worth $114,729,000 after buying an additional 45,774 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of AZEK by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company's stock valued at $109,105,000 after acquiring an additional 12,644 shares during the period. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of AZEK traded up $0.53 on Friday, reaching $46.93. 3,422,787 shares of the company's stock traded hands, compared to its average volume of 2,174,565. The stock's 50 day simple moving average is $46.09 and its two-hundred day simple moving average is $47.54. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The stock has a market cap of $6.74 billion, a PE ratio of 47.41, a PEG ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price objective 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. Stephens cut AZEK from an "overweight" rating to a "mixed" rating in a research note on Monday, March 24th. Wolfe Research reiterated a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. Citigroup reissued a "neutral" rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Baird R W downgraded shares of AZEK from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Nine equities 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 company has a consensus rating of "Hold" and a consensus price target of $53.53.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company's stock.

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.