The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its position in shares of The AZEK Company Inc. (NYSE:AZEK – Get Rating) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,200,620 shares of the company’s stock after selling 55,680 shares during the quarter. AZEK makes up 1.0% of Granite Investment Partners LLC’s holdings, making the stock its 25th biggest position. Granite Investment Partners LLC owned about 0.79% of AZEK worth $24,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of AZEK by 53.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,017,338 shares of the company’s stock valued at $61,316,000 after purchasing an additional 1,056,388 shares during the period. Impax Asset Management Group plc grew its position in shares of AZEK by 19.2% in the fourth quarter. Impax Asset Management Group plc now owns 5,694,260 shares of the company’s stock valued at $115,126,000 after purchasing an additional 917,967 shares during the period. Wellington Management Group LLP grew its position in shares of AZEK by 920.6% in the first quarter. Wellington Management Group LLP now owns 886,633 shares of the company’s stock valued at $22,024,000 after purchasing an additional 799,760 shares during the period. Vaughan Nelson Investment Management L.P. grew its position in shares of AZEK by 167.6% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 961,998 shares of the company’s stock valued at $19,548,000 after purchasing an additional 602,466 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of AZEK by 4,521.1% in the fourth quarter. Principal Financial Group Inc. now owns 579,857 shares of the company’s stock valued at $11,783,000 after purchasing an additional 567,309 shares during the period. Institutional investors and hedge funds own 99.05% of the company’s stock.

Insiders Place Their Bets

In other AZEK news, Director Corporate Opportunities F. Ares sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.36, for a total transaction of $170,520,000.00. Following the completion of the transaction, the director now owns 7,326,090 shares in the company, valued at approximately $178,463,552.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Corporate Opportunities F. Ares sold 7,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $24.36, for a total transaction of $170,520,000.00. Following the completion of the sale, the director now owns 7,326,090 shares in the company, valued at approximately $178,463,552.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $21.95, for a total transaction of $153,650.00. Following the sale, the chief executive officer now owns 43,000 shares of the company’s stock, valued at approximately $943,850. The disclosure for this sale can be found here. Insiders sold 7,080,000 shares of company stock worth $172,459,210 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AZEK. Deutsche Bank Aktiengesellschaft raised their price target on shares of AZEK from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, February 10th. Bank of America raised shares of AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $28.00 to $31.00 in a research note on Wednesday, April 19th. Barclays lifted their target price on shares of AZEK from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. The Goldman Sachs Group lifted their target price on shares of AZEK from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, February 9th. Finally, Royal Bank of Canada lifted their target price on shares of AZEK from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, February 9th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.17.

AZEK Stock Up 0.5 %

Shares of AZEK stock traded up $0.12 during trading on Friday, reaching $23.83. The company’s stock had a trading volume of 238,381 shares, compared to its average volume of 1,775,301. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.95 and a quick ratio of 1.65. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 263.44, a P/E/G ratio of 9.37 and a beta of 1.60. The stock’s 50-day moving average price is $24.59 and its 200 day moving average price is $22.92. The AZEK Company Inc. has a 1-year low of $15.12 and a 1-year high of $30.26.

AZEK (NYSE:AZEK – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. AZEK had a net margin of 1.02% and a return on equity of 5.49%. The firm had revenue of $377.69 million during the quarter, compared to analysts’ expectations of $356.45 million. On average, research analysts anticipate that The AZEK Company Inc. will post 0.48 EPS for the current year.

About AZEK

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The AZEK Company Inc engages in designing, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, which includes decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, and ULTRALOX brand name.