New York Life Investment Management LLC Decreases Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

New York Life Investment Management LLC trimmed its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,908 shares of the company’s stock after selling 1,604 shares during the period. New York Life Investment Management LLC’s holdings in AZEK were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of AZEK by 2.2% during the 3rd quarter. WCM Investment Management LLC now owns 539,494 shares of the company’s stock worth $25,232,000 after acquiring an additional 11,770 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of AZEK by 8.1% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 671,267 shares of the company’s stock worth $31,415,000 after acquiring an additional 50,230 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of AZEK by 105.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock worth $2,845,000 after acquiring an additional 31,193 shares in the last quarter. State Street Corp raised its holdings in shares of AZEK by 1.9% during the 3rd quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after acquiring an additional 45,774 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of AZEK by 18.5% during the 3rd quarter. Algert Global LLC now owns 119,453 shares of the company’s stock worth $5,590,000 after acquiring an additional 18,690 shares in the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AZEK

In other news, CMO Samara Toole sold 1,709 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total transaction of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at approximately $881,496. This represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the sale, the chief executive officer now directly owns 883,765 shares in the company, valued at approximately $44,258,951.20. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AZEK shares. JPMorgan Chase & Co. increased their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group increased their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. BMO Capital Markets increased their price target on AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Finally, DA Davidson increased their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.85.

AZEK Stock Performance

Shares of AZEK stock opened at $44.44 on Wednesday. The stock’s fifty day moving average is $48.81 and its two-hundred day moving average is $47.21. The company has a market capitalization of $6.38 billion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 1.91 and a beta of 1.94. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The AZEK Company Inc. has a 52 week low of $35.48 and a 52 week high of $54.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts expect that The AZEK Company Inc. will post 1.34 earnings per share for the current 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.