Norden Group LLC Sells 8,361 Shares of The AZEK Company Inc. (NYSE:AZEK)

Norden Group LLC trimmed its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 39.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,843 shares of the company’s stock after selling 8,361 shares during the quarter. Norden Group LLC’s holdings in AZEK were worth $628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZEK. FIL Ltd purchased a new stake in AZEK during the 4th quarter worth approximately $28,000. NBC Securities Inc. acquired a new stake in shares of AZEK during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 buying an additional 592 shares during the last quarter. Parallel Advisors LLC increased its position in shares of AZEK by 261.4% in the 1st quarter. Parallel Advisors LLC now owns 683 shares of the company’s stock valued at $33,000 after acquiring an additional 494 shares during the period. Finally, Olde Wealth Management LLC purchased a new position in AZEK in the 1st quarter worth $48,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity

In related news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the transaction, the chief executive officer directly owned 852,765 shares of the company’s stock, valued at approximately $43,832,121. This represents a 2.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AZEK has been the topic of several research analyst reports. Barclays boosted their price target on AZEK from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. UBS Group dropped their target price on AZEK from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Stephens cut their price target on shares of 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 decreased their price objective on shares of AZEK from $55.00 to $49.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, Robert W. Baird upped 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. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.93.

AZEK Stock Performance

Shares of AZEK stock opened at $54.35 on Wednesday. The company has a market cap of $7.82 billion, a P/E ratio of 53.28 and a beta of 1.82. The firm has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $49.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.47 and a current ratio of 2.45. 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 posted its quarterly earnings data 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. AZEK had a net margin of 9.92% and a return on equity of 13.87%. The business had revenue of $452.23 million for the quarter, compared to the consensus estimate of $444.75 million. During the same period last year, the firm posted $0.39 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

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.