SG Americas Securities LLC Sells 12,770 Shares of The AZEK Company Inc. (NYSE:AZEK)

SG Americas Securities LLC cut its position in The AZEK Company Inc. (NYSE:AZEK) by 74.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,466 shares of the company’s stock after selling 12,770 shares during the quarter. SG Americas Securities LLC’s holdings in AZEK were worth $171,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AZEK. Morgan Stanley raised its holdings in AZEK by 272.4% in the fourth quarter. Morgan Stanley now owns 3,973,475 shares of the company’s stock worth $80,741,000 after purchasing an additional 2,906,460 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in AZEK by 5,090.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,168,290 shares of the company’s stock worth $34,745,000 after purchasing an additional 1,145,780 shares in the last quarter. BlackRock Inc. raised its holdings in AZEK by 15.6% in the second quarter. BlackRock Inc. now owns 6,899,713 shares of the company’s stock worth $208,992,000 after purchasing an additional 929,341 shares in the last quarter. Vanguard Group Inc. raised its holdings in AZEK by 7.3% in the third quarter. Vanguard Group Inc. now owns 13,012,414 shares of the company’s stock worth $386,989,000 after purchasing an additional 881,697 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in AZEK in the first quarter worth about $20,183,000. 97.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total transaction of $589,420.00. Following the transaction, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Michelle A. Kasson sold 94,431 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the transaction, the insider now directly owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The disclosure for this sale can be found here. Insiders have sold 130,431 shares of company stock worth $6,356,622 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

AZEK Trading Down 1.3 %

AZEK stock opened at $47.29 on Monday. The company has a current ratio of 2.99, a quick ratio of 1.67 and a debt-to-equity ratio of 0.43. The AZEK Company Inc. has a 12 month low of $23.08 and a 12 month high of $50.78. The stock’s 50 day simple moving average is $47.52 and its two-hundred day simple moving average is $38.10. The firm has a market cap of $6.98 billion, a PE ratio of 59.86, a P/E/G ratio of 1.54 and a beta of 1.92.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. AZEK had a return on equity of 9.61% and a net margin of 8.57%. The business had revenue of $240.44 million for the quarter, compared to analyst estimates of $234.12 million. Analysts anticipate that The AZEK Company Inc. will post 1.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AZEK. B. Riley upped their price objective on shares of AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus upped their price objective on shares of AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Citigroup upped their price objective on shares of AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Stephens upped their price objective on shares of AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, AZEK has an average rating of “Moderate Buy” and a consensus price target of $42.84.

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.