Quadrature Capital Ltd Buys 7,236 Shares of The AZEK Company Inc. (NYSE:AZEK)

Quadrature Capital Ltd raised its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 68.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,840 shares of the company’s stock after buying an additional 7,236 shares during the quarter. Quadrature Capital Ltd’s holdings in AZEK were worth $896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares in the last quarter. ORG Partners LLC acquired a new stake in AZEK during the 1st quarter worth approximately $35,000. Venturi Wealth Management LLC boosted its holdings in shares of 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 buying an additional 262 shares during the period. Whittier Trust Co. acquired a new stake in shares of AZEK during the first quarter worth $37,000. Finally, Principal Securities Inc. acquired a new stake in shares of AZEK during the fourth quarter worth $44,000. 97.44% of the stock is owned by institutional investors.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction of $597,610.00. Following the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The sale was disclosed in a legal 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 company’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 completion of the sale, the insider now owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $45.97, for a total transaction 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. Insiders sold 38,000 shares of company stock valued at $1,701,000 in the last quarter. Company insiders own 3.10% of the company’s stock.

AZEK Stock Performance

NYSE:AZEK traded up $2.26 during mid-day trading on Friday, hitting $45.25. 1,532,401 shares of the stock were exchanged, compared to its average volume of 2,152,727. The firm’s 50-day simple moving average is $44.63 and its 200 day simple moving average is $45.03. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of 44.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The AZEK Company Inc. has a fifty-two week low of $25.03 and a fifty-two week high of $50.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40.

AZEK (NYSE:AZEK) last announced its earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) 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. As a group, equities analysts anticipate that The AZEK Company Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BMO Capital Markets cut AZEK from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $53.00 to $50.00 in a research report on Tuesday, July 23rd. Citigroup decreased their price target 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. Barclays cut their price objective on shares of AZEK from $58.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. DA Davidson downgraded shares of AZEK from a “buy” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Finally, Truist Financial reissued a “buy” rating and set a $57.00 price target on shares of AZEK in a research report on Tuesday, June 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.72.

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.