The AZEK Company Inc. (NYSE:AZEK) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in The AZEK Company Inc. (NYSE:AZEK - Free Report) by 47.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,162 shares of the company's stock after selling 14,692 shares during the period. SG Americas Securities LLC's holdings in AZEK were worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in AZEK by 33.8% in the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company's stock worth $665,702,000 after acquiring an additional 3,595,863 shares during the last quarter. FMR LLC increased its holdings in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company's stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. State Street Corp raised its stake in AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company's stock valued at $114,729,000 after buying an additional 45,774 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AZEK by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company's stock worth $109,105,000 after buying an additional 12,644 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of AZEK by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company's stock valued at $93,564,000 after acquiring an additional 90,206 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company's stock.

Insider Activity

In other news, CMO Samara Toole sold 1,709 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares in the company, valued at $881,496. This represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Monday, December 16th. The shares were sold at an average price of $53.32, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 41,322 shares of company stock valued at $2,039,170 over the last 90 days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AZEK. DA Davidson upped their price target on AZEK from $44.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, November 20th. Robert W. Baird upped their price objective on shares of AZEK from $52.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on AZEK from $48.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Truist Financial lifted their price objective on shares of AZEK from $52.00 to $57.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their price target on AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.73.

AZEK Price Performance

Shares of AZEK traded up $0.46 during mid-day trading on Thursday, reaching $51.97. 1,290,357 shares of the company's stock were exchanged, compared to its average volume of 1,500,450. The company has a 50-day simple moving average of $50.37 and a two-hundred day simple moving average of $46.10. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a market cap of $7.43 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 2.28 and a beta of 1.94. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32.

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.