Granite Investment Partners LLC Reduces Holdings in The AZEK Company Inc. (NYSE:AZEK)

Granite Investment Partners LLC lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 354,572 shares of the company's stock after selling 14,003 shares during the quarter. Granite Investment Partners LLC owned about 0.25% of AZEK worth $16,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Townsquare Capital LLC lifted its position in shares of AZEK by 8.6% in the fourth quarter. Townsquare Capital LLC now owns 84,145 shares of the company's stock worth $3,994,000 after purchasing an additional 6,638 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in AZEK by 101.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 859,910 shares of the company's stock valued at $40,820,000 after purchasing an additional 433,125 shares during the period. Sterling Capital Management LLC increased its holdings in AZEK by 21.1% in the fourth quarter. Sterling Capital Management LLC now owns 4,194 shares of the company's stock worth $199,000 after purchasing an additional 732 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of AZEK by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 63,125 shares of the company's stock worth $2,997,000 after purchasing an additional 400 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its stake in AZEK by 57.5% during the 4th quarter. Capital Fund Management S.A. now owns 148,441 shares of the company's stock valued at $7,046,000 after acquiring an additional 54,189 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

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Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the sale, the chief executive officer now directly owns 868,765 shares in the company, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Raymond James set a $51.50 price objective on shares of AZEK in a research note on Tuesday, March 25th. Citigroup reiterated a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Stephens downgraded shares of AZEK from an "overweight" rating to a "mixed" rating in a report on Monday, March 24th. BMO Capital Markets upped their target price on shares of AZEK from $54.00 to $57.00 and gave the company a "market perform" rating in a research report on Monday, March 24th. Finally, Barclays decreased their target price on AZEK from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, AZEK has a consensus rating of "Hold" and an average target price of $53.40.

AZEK Stock Performance

Shares of AZEK traded down $0.59 during midday trading on Tuesday, reaching $46.66. 2,283,747 shares of the stock were exchanged, compared to its average volume of 2,156,436. The stock's 50 day simple moving average is $46.23 and its 200 day simple moving average is $47.55. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The company has a market cap of $6.70 billion, a P/E ratio of 47.14, a PEG ratio of 1.91 and a beta of 1.86. 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 posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 earnings per share 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, sell-side analysts expect that The AZEK Company Inc. will post 1.34 earnings per share 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.