American Century Companies Inc. trimmed its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,258 shares of the company's stock after selling 1,341,427 shares during the period. American Century Companies Inc. owned 0.57% of AZEK worth $38,890,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of AZEK. Virtu Financial LLC acquired a new stake in AZEK during the 4th quarter worth $655,000. Sciencast Management LP acquired a new stake in shares of AZEK during the fourth quarter worth $2,243,000. Blueshift Asset Management LLC bought a new stake in AZEK in the fourth quarter valued at about $273,000. Teacher Retirement System of Texas lifted its stake in AZEK by 18.8% in the fourth quarter. Teacher Retirement System of Texas now owns 51,735 shares of the company's stock valued at $2,456,000 after buying an additional 8,182 shares during the period. Finally, Investment House LLC boosted its holdings in AZEK by 0.7% during the fourth quarter. Investment House LLC now owns 39,255 shares of the company's stock worth $1,863,000 after buying an additional 290 shares during the last quarter. 97.44% of the stock is owned by institutional investors.
AZEK Stock Down 0.9 %
NYSE:AZEK traded down $0.44 during trading hours on Tuesday, reaching $48.45. 5,865,381 shares of the stock were exchanged, compared to its average volume of 1,962,603. 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 AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The stock has a market cap of $6.96 billion, a PE ratio of 48.94, a PEG ratio of 1.91 and a beta of 1.95. The firm has a 50 day moving average of $47.35 and a 200 day moving average of $47.53.
AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, equities analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current year.
Insider Activity
In other news, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 883,765 shares in the company, valued at $44,258,951.20. This represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold 55,000 shares of company stock worth $2,518,624 in the last quarter. Corporate insiders own 3.20% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AZEK. William Blair reaffirmed a "market perform" rating on shares of AZEK in a research note on Monday, March 24th. Stephens cut shares of AZEK from an "overweight" rating to a "mixed" rating in a research report on Monday, March 24th. Barclays boosted their price target on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $53.00 price objective (down previously from $58.00) on shares of AZEK in a research note on Monday, March 24th. Finally, Citigroup reissued a "neutral" rating and issued a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.32.
Check Out Our Latest Analysis on AZEK
About AZEK
(
Free Report)
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.
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