Redwood Investment Management LLC Trims Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Redwood Investment Management LLC cut its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 18.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,843 shares of the company’s stock after selling 6,812 shares during the quarter. Redwood Investment Management LLC’s holdings in AZEK were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC increased its holdings in AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock valued at $28,000 after buying an additional 229 shares during the period. Venturi Wealth Management LLC boosted its stake in AZEK by 58.9% in the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after acquiring an additional 262 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in AZEK by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after acquiring an additional 570 shares in the last quarter. ORG Partners LLC acquired a new stake in AZEK in the first quarter valued at approximately $35,000. Finally, Whittier Trust Co. acquired a new stake in AZEK in the first quarter valued at approximately $37,000. 97.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AZEK shares. Citigroup lowered their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $44.00 in a research note on Wednesday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of AZEK from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. 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 note on Thursday, May 9th. Finally, Barclays lowered their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, AZEK has a consensus rating of “Moderate Buy” and a consensus price target of $46.72.

Insider Buying and Selling at AZEK

In other news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the sale, the chief executive officer now directly owns 1,024,444 shares of the company’s stock, valued at approximately $42,770,537. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,000 shares of company stock valued at $1,701,000. Corporate insiders own 3.10% of the company’s stock.

AZEK Stock Performance

AZEK traded up $0.11 on Thursday, reaching $45.00. The stock had a trading volume of 69,189 shares, compared to its average volume of 1,690,139. The AZEK Company Inc. has a 12-month low of $25.03 and a 12-month high of $50.78. The company has a current ratio of 3.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $44.54 and its two-hundred day moving average price is $45.20. The company has a market cap of $6.55 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88.

AZEK (NYSE:AZEK) last released its quarterly earnings data on Friday, June 14th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The company had revenue of $418.41 million during the quarter, compared to analysts’ expectations of $416.79 million. Sell-side analysts forecast that The AZEK Company Inc. will post 1.06 earnings per share for the current year.

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.