The AZEK Company Inc. (NYSE:AZEK) Stock Position Reduced by Rhumbline Advisers

Rhumbline Advisers decreased its position in The AZEK Company Inc. (NYSE:AZEK) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,000 shares of the company’s stock after selling 11,025 shares during the quarter. Rhumbline Advisers owned 0.11% of AZEK worth $7,500,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC acquired a new stake in AZEK during the fourth quarter worth about $27,000. Farther Finance Advisors LLC grew its holdings in shares of AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares during the last quarter. GAMMA Investing LLC raised its position in shares of AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares during the period. Blue Trust Inc. raised its position in shares of AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of AZEK in the 3rd quarter worth approximately $59,000. 97.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CMO Samara Toole sold 1,709 shares of the 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 owns 16,632 shares in the company, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Monday, December 16th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,709 shares of company stock valued at $3,060,151 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZEK. Robert W. Baird increased their target price on AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upped their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Royal Bank of Canada lifted their price objective on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial upped their target price on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, DA Davidson raised their price target on shares of AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.85.

AZEK Price Performance

NYSE AZEK opened at $46.72 on Wednesday. The AZEK Company Inc. has a 12 month low of $35.48 and a 12 month high of $54.91. The firm has a market capitalization of $6.71 billion, a PE ratio of 47.19, a P/E/G ratio of 1.91 and a beta of 1.94. The company’s 50 day simple moving average is $49.11 and its 200 day simple moving average is $47.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. As a group, equities research analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal 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.