Two Sigma Investments LP Trims Position in The AZEK Company Inc. (NYSE:AZEK)

Two Sigma Investments LP reduced its holdings in The AZEK Company Inc. (NYSE:AZEK) by 67.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,661 shares of the company’s stock after selling 80,726 shares during the period. Two Sigma Investments LP’s holdings in AZEK were worth $1,835,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AZEK. Empowered Funds LLC purchased a new position in shares of AZEK during the 4th quarter valued at approximately $27,000. FIL Ltd acquired a new stake in AZEK during the fourth quarter valued at $28,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after buying an additional 592 shares in the last quarter. Avalon Trust Co purchased a new position in AZEK in the fourth quarter valued at $38,000. Finally, Blue Trust Inc. raised its position in shares of AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after acquiring an additional 877 shares during the period. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer now owns 852,765 shares in the company, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

AZEK Stock Performance

Shares of AZEK stock opened at $50.49 on Tuesday. The business’s 50 day moving average price is $48.72 and its 200 day moving average price is $48.67. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 50.99, a PEG ratio of 1.91 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The business had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same quarter in the previous year, the firm earned $0.39 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, research analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AZEK. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Stephens cut their price objective on AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Citigroup reissued a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. Finally, Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AZEK has a consensus rating of “Hold” and a consensus target price of $53.93.

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.