Nomura Holdings Inc. Decreases Position in The AZEK Company Inc. (NYSE:AZEK)

Nomura Holdings Inc. cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 71.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,015 shares of the company’s stock after selling 40,985 shares during the period. Nomura Holdings Inc.’s holdings in AZEK were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AZEK. FMR LLC raised its position in AZEK by 80.7% during the fourth quarter. FMR LLC now owns 12,311,577 shares of the company’s stock valued at $584,431,000 after purchasing an additional 5,499,986 shares during the period. Norges Bank purchased a new stake in AZEK during the fourth quarter valued at approximately $94,987,000. Balyasny Asset Management L.P. raised its position in AZEK by 493.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock valued at $79,827,000 after purchasing an additional 1,398,340 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of AZEK by 72.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,957,094 shares of the company’s stock worth $92,903,000 after buying an additional 823,588 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of AZEK by 101.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 859,910 shares of the company’s stock worth $40,820,000 after buying an additional 433,125 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Price Performance

Shares of NYSE AZEK opened at $51.24 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.37 billion, a PE ratio of 51.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The stock’s fifty day simple moving average is $47.50 and its two-hundred day simple moving average is $48.45. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on AZEK. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a report on Wednesday, March 26th. William Blair reiterated a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Stephens reduced their price target on AZEK from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Loop Capital reduced their price target on AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Finally, Raymond James set a $51.50 price target on AZEK in a report on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.93.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

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.