The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. reduced its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 15.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 94,100 shares of the company's stock after selling 17,200 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of AZEK worth $4,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in shares of AZEK in the 4th quarter worth about $27,000. FIL Ltd bought a new position in shares of AZEK in the 4th quarter worth about $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of AZEK by 623.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company's stock worth $33,000 after acquiring an additional 592 shares in the last quarter. Avalon Trust Co bought a new position in shares of AZEK in the 4th quarter worth about $38,000. Finally, Blue Trust Inc. increased its stake in shares of AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock worth $85,000 after acquiring an additional 877 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer now directly owns 852,765 shares of the company's stock, valued at approximately $43,832,121. This represents a 2.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZEK. Robert W. Baird raised their price objective on shares of AZEK from $48.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Stephens decreased their target price on shares of AZEK from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Loop Capital decreased their target price on shares of AZEK from $55.00 to $49.00 and set a "hold" rating on the stock in a research note on Thursday, April 17th. Citigroup reiterated a "neutral" rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Finally, Barclays lifted their price objective on shares of AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, AZEK has an average rating of "Hold" and an average price target of $53.93.

AZEK Stock Down 1.5%

Shares of AZEK traded down $0.78 during mid-day trading on Wednesday, hitting $50.04. 2,929,877 shares of the company traded hands, compared to its average volume of 3,047,755. The business has a 50 day moving average of $47.73 and a 200 day moving average of $48.46. The company has a market capitalization of $7.20 billion, a PE ratio of 50.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate 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 prior year, the firm posted $0.39 EPS. The business's quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current 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.