WCM Investment Management LLC Reduces Stake in The AZEK Company Inc. (NYSE:AZEK)

WCM Investment Management LLC lessened its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 3.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 522,312 shares of the company’s stock after selling 17,182 shares during the quarter. WCM Investment Management LLC owned about 0.37% of AZEK worth $25,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in AZEK by 8.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock valued at $31,415,000 after acquiring an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AZEK by 105.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock valued at $2,845,000 after purchasing an additional 31,193 shares in the last quarter. State Street Corp increased its holdings in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after purchasing an additional 45,774 shares during the period. Algert Global LLC increased its holdings in shares of AZEK by 18.5% in the third quarter. Algert Global LLC now owns 119,453 shares of the company’s stock worth $5,590,000 after purchasing an additional 18,690 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after buying an additional 90,206 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Trading Down 1.8 %

Shares of AZEK stock opened at $50.11 on Friday. The business has a 50-day moving average of $50.23 and a 200 day moving average of $46.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The stock has a market capitalization of $7.17 billion, a PE ratio of 50.62, a P/E/G ratio of 2.19 and a beta of 1.94.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. As a group, sell-side analysts anticipate that The AZEK Company Inc. will post 1.29 earnings per share for the current year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $44.98, for a total transaction of $882,192.74. Following the completion of the transaction, the chief executive officer now owns 904,152 shares in the company, valued at $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of AZEK stock in a transaction on Tuesday, December 17th. The shares were 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 trade represents a 9.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,322 shares of company stock worth $2,039,170. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

AZEK has been the topic of a number of research analyst reports. Barclays upped their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their target price on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial increased their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, DA Davidson lifted their price objective on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, AZEK presently has an average rating of “Moderate Buy” and an average target price of $54.85.

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.