First Eagle Investment Management LLC Decreases Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

First Eagle Investment Management LLC lessened its holdings in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 23.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,559 shares of the company's stock after selling 19,666 shares during the period. First Eagle Investment Management LLC's holdings in AZEK were worth $3,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in AZEK in the 4th quarter valued at about $27,000. GAMMA Investing LLC increased its stake in AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after buying an additional 239 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in AZEK in the 3rd quarter valued at about $59,000. Millburn Ridgefield Corp purchased a new stake in AZEK in the 3rd quarter valued at about $84,000. Finally, Blue Trust Inc. increased its stake in AZEK by 94.2% in the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company's stock valued at $85,000 after buying an additional 877 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

AZEK Trading Down 0.4 %

NYSE:AZEK traded down $0.18 during trading hours on Thursday, reaching $41.73. The company's stock had a trading volume of 1,790,979 shares, compared to its average volume of 1,646,326. The firm has a 50-day simple moving average of $47.48 and a 200-day simple moving average of $47.14. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 42.15, a PEG ratio of 1.91 and a beta of 1.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

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

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 15,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the transaction, the chief executive officer now owns 868,765 shares in the company, valued at approximately $35,645,427.95. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 55,000 shares of company stock worth $2,518,624. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AZEK shares. Royal Bank of Canada increased their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. DA Davidson increased their target price on shares of AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, November 20th. Benchmark reissued a "buy" rating and set a $55.00 target price on shares of AZEK in a research report on Thursday, November 21st. The Goldman Sachs Group increased their target price on shares of AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Finally, Barclays increased their target price on shares of AZEK from $58.00 to $64.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.85.

AZEK Company 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.