The AZEK Company Inc. (NYSE:AZEK) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in The AZEK Company Inc. (NYSE:AZEK) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,407,329 shares of the company’s stock after selling 136,522 shares during the quarter. William Blair Investment Management LLC owned approximately 2.38% of AZEK worth $161,746,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

AZEK has been the topic of several research reports. The Goldman Sachs Group increased their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Truist Financial increased their price target on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $55.00 price objective on shares of AZEK in a report on Thursday, November 21st. Barclays increased their price objective on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

Insider Activity

In other AZEK news, CMO Samara Toole sold 1,709 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was 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 of the company’s stock, valued at approximately $881,496. The trade was a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 15,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $41.03, for a total value of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at approximately $35,645,427.95. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,709 shares of company stock valued at $2,609,201 over the last quarter. Company insiders own 3.20% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $41.21 on Monday. 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 stock has a fifty day moving average of $47.82 and a two-hundred day moving average of $47.20. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 41.62, a PEG ratio of 1.91 and a beta of 1.95. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK) last announced its quarterly earnings data 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 return on equity of 13.47% and a net margin of 9.85%. On average, analysts anticipate that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

About AZEK

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.