American Century Companies Inc. Trims Holdings in The AZEK Company Inc. (NYSE:AZEK)

American Century Companies Inc. reduced its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 62.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 819,258 shares of the company’s stock after selling 1,341,427 shares during the quarter. American Century Companies Inc.’s holdings in AZEK were worth $38,890,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AZEK by 105.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,798 shares of the company’s stock valued at $2,845,000 after buying an additional 31,193 shares during the period. State Street Corp boosted its holdings in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after purchasing an additional 45,774 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AZEK by 4.7% in the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock valued at $93,564,000 after purchasing an additional 90,206 shares during the period. Stifel Financial Corp grew its stake in AZEK by 24.7% in the third quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock worth $1,052,000 after purchasing an additional 4,454 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in AZEK by 94.2% during the 4th quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock worth $85,000 after purchasing an additional 877 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Insider Transactions at AZEK

In other news, CEO Jesse G. Singh sold 20,387 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 owns 883,765 shares in the company, valued at $44,258,951.20. This represents a 2.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 55,000 shares of company stock worth $2,518,624 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AZEK. The Goldman Sachs Group upped their target price on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Robert W. Baird reaffirmed a “neutral” rating and issued a $53.00 price objective (down from $58.00) on shares of AZEK in a research note on Monday. William Blair restated a “market perform” rating on shares of AZEK in a report on Monday. Stephens cut shares of AZEK from an “overweight” rating to a “mixed” rating in a research report on Monday. Finally, Baird R W lowered shares of AZEK from a “strong-buy” rating to a “hold” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $54.32.

AZEK Stock Up 1.9 %

AZEK stock opened at $49.77 on Friday. The business’s 50-day simple moving average is $47.41 and its two-hundred day simple moving average is $47.31. 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 $7.15 billion, a PE ratio of 50.27, a PEG ratio of 1.91 and a beta of 1.95. 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 issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. Equities analysts anticipate that The AZEK Company Inc. will post 1.34 EPS 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.