Artemis Investment Management LLP Decreases Stake in The AZEK Company Inc. (NYSE:AZEK)

Artemis Investment Management LLP cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,146,641 shares of the company’s stock after selling 174,913 shares during the period. Artemis Investment Management LLP owned approximately 0.78% of AZEK worth $57,563,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AZEK. Quadrant Capital Group LLC grew its stake in shares of AZEK by 45.9% during the 4th quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after purchasing an additional 229 shares during the period. Principal Securities Inc. bought a new stake in AZEK during the fourth quarter valued at approximately $44,000. CWM LLC increased its holdings in AZEK by 81.3% during the fourth quarter. CWM LLC now owns 2,022 shares of the company’s stock valued at $77,000 after buying an additional 907 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of AZEK by 80.4% during the 4th quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock worth $167,000 after acquiring an additional 1,940 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of AZEK during the 1st quarter valued at $227,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at approximately $49,208,310.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other AZEK news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the sale, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $49,208,310.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,000 shares of company stock valued at $1,786,150. Company insiders own 3.10% of the company’s stock.

AZEK Trading Up 1.2 %

NYSE:AZEK traded up $0.50 during midday trading on Friday, hitting $42.13. The stock had a trading volume of 4,840,774 shares, compared to its average volume of 1,643,188. The stock has a 50-day moving average of $45.91 and a 200 day moving average of $44.18. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.31 and a beta of 1.91. The AZEK Company Inc. has a one year low of $25.03 and a one year high of $50.78. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Benchmark began coverage on shares of AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $57.00 target price on shares of AZEK in a report on Tuesday, June 18th. Robert W. Baird lowered their price objective on shares of AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Finally, Citigroup upped their price objective on AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.33.

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.