Pictet Asset Management Holding SA Sells 291 Shares of The AZEK Company Inc. (NYSE:AZEK)

Pictet Asset Management Holding SA reduced its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,029 shares of the company’s stock after selling 291 shares during the period. Pictet Asset Management Holding SA’s holdings in AZEK were worth $903,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of AZEK in the 4th quarter valued at approximately $94,987,000. Loomis Sayles & Co. L P boosted its stake in AZEK by 4.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,281,538 shares of the company’s stock valued at $60,834,000 after buying an additional 58,751 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AZEK by 623.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares during the period. EFG Asset Management North America Corp. raised its stake in AZEK by 26.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 47,136 shares of the company’s stock worth $2,238,000 after acquiring an additional 9,772 shares in the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in AZEK by 6.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 95,318 shares of the company’s stock worth $4,525,000 after acquiring an additional 6,073 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Stock Down 4.0 %

NYSE:AZEK opened at $46.25 on Monday. The stock has a 50-day simple moving average of $47.18 and a 200 day simple moving average of $47.59. 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 company has a market cap of $6.65 billion, a PE ratio of 46.72, a PEG ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91.

AZEK (NYSE:AZEK) last released its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jesse G. Singh sold 19,613 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the completion of the sale, the chief executive officer now owns 904,152 shares of the company’s stock, valued at approximately $40,668,756.96. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 55,000 shares of company stock valued at $2,518,624. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup reaffirmed a “neutral” rating and set a $51.50 price objective (down from $61.00) on shares of AZEK in a research note on Tuesday, March 25th. BMO Capital Markets lifted their target price on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, March 24th. Wolfe Research restated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Finally, Stephens cut AZEK from an “overweight” rating to a “mixed” rating in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.32.

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.