US Bancorp DE Reduces Stake in The AZEK Company Inc. (NYSE:AZEK)

US Bancorp DE lessened its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 24.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,502 shares of the company’s stock after selling 4,042 shares during the period. US Bancorp DE’s holdings in AZEK were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AZEK. SG Americas Securities LLC increased its position in shares of AZEK by 573.2% during the 1st quarter. SG Americas Securities LLC now owns 30,063 shares of the company’s stock worth $1,510,000 after purchasing an additional 25,597 shares during the last quarter. Sei Investments Co. increased its position in shares of AZEK by 2.0% during the first quarter. Sei Investments Co. now owns 459,982 shares of the company’s stock valued at $23,100,000 after acquiring an additional 8,978 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of AZEK by 44.5% in the 1st quarter. Russell Investments Group Ltd. now owns 206,138 shares of the company’s stock valued at $10,352,000 after acquiring an additional 63,481 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of AZEK in the 1st quarter worth approximately $26,360,000. Finally, Westfield Capital Management Co. LP boosted its position in shares of AZEK by 1.7% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,487,700 shares of the company’s stock worth $74,712,000 after purchasing an additional 25,515 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Up 1.1 %

Shares of NYSE AZEK opened at $47.04 on Monday. The business has a 50-day moving average of $44.26 and a two-hundred day moving average of $44.16. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 41.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.88. The AZEK Company Inc. has a 1 year low of $27.81 and a 1 year high of $50.78. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.07 and a quick ratio of 2.11.

Analyst Ratings Changes

A number of analysts have issued reports on AZEK shares. BMO Capital Markets boosted their target price on AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a report on Friday, October 4th. Royal Bank of Canada dropped their target price on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus reduced their price target on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.12.

Insider Buying and Selling

In related news, Director Pamela J. Edwards bought 600 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the acquisition, the director now owns 8,708 shares in the company, valued at approximately $363,123.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AZEK news, Director Pamela J. Edwards bought 600 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the director now owns 8,708 shares in the company, valued at approximately $363,123.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at approximately $7,742,656.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

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.