D. E. Shaw & Co. Inc. Sells 877,168 Shares of The AZEK Company Inc. (NYSE:AZEK)

D. E. Shaw & Co. Inc. lessened its position in The AZEK Company Inc. (NYSE:AZEK) by 86.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,660 shares of the company’s stock after selling 877,168 shares during the period. D. E. Shaw & Co. Inc. owned about 0.10% of AZEK worth $6,725,000 as of its most recent SEC filing.

Several 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 fourth quarter valued at approximately $27,000. FIL Ltd purchased a new position in shares of AZEK during the fourth quarter valued at approximately $28,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares during the last quarter. Avalon Trust Co purchased a new position in shares of AZEK during the fourth quarter valued at approximately $38,000. Finally, Blue Trust Inc. raised its holdings in shares of AZEK by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after purchasing an additional 877 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of AZEK from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Raymond James set a $51.50 price objective on shares of AZEK in a report on Tuesday, March 25th. Loop Capital decreased their price objective on shares of AZEK from $55.00 to $49.00 and set a “hold” rating for the company in a report on Thursday, April 17th. Finally, Stephens reduced their target price on shares of AZEK from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.93.

Insider Activity at AZEK

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the completion of the transaction, the chief executive officer now directly owns 852,765 shares of the company’s stock, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

AZEK Stock Down 0.6%

Shares of AZEK stock opened at $51.32 on Friday. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91. The company’s fifty day moving average price is $47.07 and its 200-day moving average price is $48.29. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The company’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

AZEK Company 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.