Versor Investments LP Reduces Holdings in The AZEK Company Inc. (NYSE:AZEK)

Versor Investments LP reduced its stake in The AZEK Company Inc. (NYSE:AZEK) by 68.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,200 shares of the company’s stock after selling 13,252 shares during the period. Versor Investments LP’s holdings in AZEK were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC acquired a new position in AZEK during the 4th quarter valued at approximately $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 buying an additional 487 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after acquiring an additional 239 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in AZEK in the 3rd quarter worth $59,000. Finally, Millburn Ridgefield Corp acquired a new stake in AZEK during the 3rd quarter worth about $84,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 sale, the chief executive officer now directly owns 923,765 shares in the company, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at $881,496. The trade was a 9.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AZEK has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. raised 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. Robert W. Baird upped their price objective on shares of AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Thursday, November 21st. Finally, Royal Bank of Canada upped their price target on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Price Performance

NYSE:AZEK opened at $45.88 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91. The stock’s 50-day moving average price is $48.90 and its 200-day moving average price is $47.19. The stock has a market capitalization of $6.59 billion, a PE ratio of 46.34, a price-to-earnings-growth ratio of 1.91 and a beta of 1.94.

AZEK (NYSE:AZEK) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 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 analysts expect 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.