Thompson Investment Management Inc. Reduces Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Thompson Investment Management Inc. reduced its stake in The AZEK Company Inc. (NYSE:AZEK) by 11.4% during the first quarter, HoldingsChannel reports. The firm owned 7,765 shares of the company’s stock after selling 1,000 shares during the period. Thompson Investment Management Inc.’s holdings in AZEK were worth $380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in AZEK by 80.7% in the 4th quarter. FMR LLC now owns 12,311,577 shares of the company’s stock worth $584,431,000 after buying an additional 5,499,986 shares during the period. Norges Bank purchased a new position in shares of AZEK during the fourth quarter valued at approximately $94,987,000. Balyasny Asset Management L.P. boosted its stake in shares of AZEK by 493.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,681,629 shares of the company’s stock worth $79,827,000 after buying an additional 1,398,340 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AZEK by 1,280.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,116,458 shares of the company’s stock valued at $54,584,000 after purchasing an additional 1,035,610 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in 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 acquiring an additional 823,588 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

AZEK Price Performance

Shares of AZEK stock opened at $54.47 on Wednesday. The company has a market capitalization of $7.84 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.82. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. 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 firm has a fifty day simple moving average of $49.22 and a 200-day simple moving average of $48.87.

AZEK (NYSE:AZEK) last issued its earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $452.23 million during the quarter, compared to analysts’ expectations of $444.75 million. AZEK had a net margin of 9.85% and a return on equity of 13.47%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research note on Wednesday, March 26th. UBS Group lowered their price target on AZEK from $55.00 to $51.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Barclays raised their price target on AZEK from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Loop Capital reduced their target price on shares of AZEK from $55.00 to $49.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James set a $51.50 price target on shares of AZEK in a research report on Tuesday, March 25th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $53.93.

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.