The AZEK Company Inc. (NYSE:AZEK) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC lessened its holdings in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 522,312 shares of the company's stock after selling 17,182 shares during the period. WCM Investment Management LLC owned approximately 0.37% of AZEK worth $25,055,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Creative Planning increased its position in AZEK by 44.4% during the second quarter. Creative Planning now owns 6,557 shares of the company's stock worth $276,000 after buying an additional 2,017 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in AZEK during the second quarter valued at approximately $262,000. CWM LLC boosted its position in shares of AZEK by 12.5% in the third quarter. CWM LLC now owns 5,735 shares of the company's stock worth $268,000 after buying an additional 636 shares during the period. Paladin Wealth LLC purchased a new stake in AZEK during the 3rd quarter worth $39,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of AZEK during the 3rd quarter valued at approximately $31,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZEK has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on AZEK from $50.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Barclays upped their target price on AZEK from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. BMO Capital Markets lifted their price target on AZEK from $52.00 to $54.00 and gave the company a "market perform" rating in a research report on Thursday, February 6th. The Goldman Sachs Group upped their price objective on AZEK from $52.00 to $59.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, DA Davidson lifted their target price on AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $54.85.

AZEK Price Performance

NYSE:AZEK traded down $1.16 during mid-day trading on Wednesday, hitting $49.07. The company's stock had a trading volume of 1,260,219 shares, compared to its average volume of 1,599,915. The company has a current ratio of 2.56, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 49.57, a P/E/G ratio of 2.19 and a beta of 1.94. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The stock has a fifty day moving average of $50.10 and a 200-day moving average of $46.53.

AZEK (NYSE:AZEK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS 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%. As a group, equities analysts forecast that The AZEK Company Inc. will post 1.29 EPS for the current fiscal year.

Insider Activity at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the company's stock in a transaction on Monday, February 10th. The shares were 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 directly owns 883,765 shares of the company's stock, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were 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 owns 16,632 shares of the company's stock, valued at $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is owned by insiders.

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.