Impax Asset Management Group plc Lowers Position in The AZEK Company Inc. (NYSE:AZEK)

Impax Asset Management Group plc trimmed its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537,176 shares of the company's stock after selling 29,275 shares during the period. Impax Asset Management Group plc owned 1.07% of AZEK worth $72,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZEK. Equitable Trust Co. lifted its position in shares of AZEK by 2.2% in the third quarter. Equitable Trust Co. now owns 10,346 shares of the company's stock valued at $484,000 after acquiring an additional 226 shares in the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 239 shares during the period. Truist Financial Corp raised its stake in AZEK by 1.6% during the 4th 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. Creative Planning lifted its holdings in AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company's stock worth $327,000 after purchasing an additional 430 shares in the last quarter. Finally, Covestor Ltd boosted its stake in AZEK by 18.8% in the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company's stock worth $129,000 after purchasing an additional 436 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

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AZEK Trading Down 1.6 %

NYSE:AZEK traded down $0.75 during midday trading on Thursday, hitting $45.86. 839,746 shares of the company traded hands, compared to its average volume of 1,617,417. 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 firm's fifty day moving average is $49.01 and its 200-day moving average is $47.00. The firm has a market capitalization of $6.59 billion, a P/E ratio of 46.32, a P/E/G ratio of 1.91 and a beta of 1.94. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91.

AZEK (NYSE:AZEK - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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, sell-side analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analysts Set New Price Targets

AZEK has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Truist Financial boosted their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Barclays increased their price objective on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. 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 report on Friday, December 13th. Finally, DA Davidson increased their price target on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.85.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total transaction of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is currently owned by insiders.

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.