The AZEK Company Inc. (NYSE:AZEK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 234,241 shares of the company's stock after selling 21,090 shares during the period. California Public Employees Retirement System owned 0.16% of AZEK worth $11,119,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after acquiring an additional 239 shares during the last quarter. Truist Financial Corp grew its holdings in AZEK by 1.6% in the fourth quarter. Truist Financial Corp now owns 16,706 shares of the company's stock valued at $793,000 after purchasing an additional 255 shares during the period. Investment House LLC increased its position 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 purchasing an additional 290 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in AZEK by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company's stock worth $146,000 after purchasing an additional 352 shares during the period. Finally, Norden Group LLC boosted its holdings in shares of AZEK by 2.4% in the 4th quarter. Norden Group LLC now owns 21,204 shares of the company's stock valued at $1,007,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 20,387 shares of the business'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 of the company's stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AZEK shares. Robert W. Baird restated a "neutral" rating and set a $53.00 price objective (down from $58.00) on shares of AZEK in a report on Monday, March 24th. BMO Capital Markets lifted their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research note on Monday, March 24th. The Goldman Sachs Group lifted their price target on shares of AZEK from $52.00 to $59.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Barclays decreased their price objective on shares of AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada lifted their target price on AZEK from $50.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, AZEK has a consensus rating of "Hold" and an average price target of $53.40.

AZEK Stock Performance

Shares of AZEK traded up $1.09 during mid-day trading on Friday, reaching $47.35. 3,105,968 shares of the company's stock traded hands, compared to its average volume of 2,144,833. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91. The stock has a market capitalization of $6.80 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The business's 50-day moving average price is $46.40 and its 200-day moving average price is $47.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (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%. Equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share 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.