Schroder Investment Management Group Sells 134,756 Shares of The AZEK Company Inc. (NYSE:AZEK)

Schroder Investment Management Group trimmed its stake in The AZEK Company Inc. (NYSE:AZEK) by 14.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 779,665 shares of the company’s stock after selling 134,756 shares during the period. Schroder Investment Management Group owned approximately 0.55% of AZEK worth $37,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 during the last quarter. State Street Corp grew its stake in shares of AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after buying an additional 45,774 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 during the period. Stifel Financial Corp lifted its stake in shares of AZEK by 24.7% during the 3rd quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock worth $1,052,000 after acquiring an additional 4,454 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after acquiring an additional 877 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $48.45 on Wednesday. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 48.94, a PEG ratio of 1.91 and a beta of 1.95. 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 firm has a 50-day simple moving average of $47.35 and a two-hundred day simple moving average of $47.53.

AZEK (NYSE:AZEK) last posted its earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, equities analysts forecast that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Transactions at AZEK

In related news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the transaction, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. This trade represents a 2.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 55,000 shares of company stock valued at $2,518,624 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AZEK shares. Barclays lifted their target price on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday, March 24th. William Blair reaffirmed a “market perform” rating on shares of AZEK in a research report on Monday, March 24th. Citigroup reiterated a “neutral” rating and issued a $51.50 price target (down previously from $61.00) on shares of AZEK in a report on Tuesday, March 25th. Finally, Stephens downgraded AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, AZEK has a consensus rating of “Hold” and a consensus price target of $54.32.

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.