The AZEK Company Inc. (NYSE:AZEK) Shares Sold by Bokf Na

Bokf Na decreased its position in The AZEK Company Inc. (NYSE:AZEK) by 4.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 90,254 shares of the company’s stock after selling 4,441 shares during the period. Bokf Na’s holdings in AZEK were worth $3,802,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. M&T Bank Corp purchased a new position in shares of AZEK during the 4th quarter worth approximately $223,000. Charles Schwab Investment Management Inc. increased its position in AZEK by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,092,176 shares of the company’s stock worth $41,776,000 after buying an additional 20,912 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of AZEK in the fourth quarter worth $44,000. Teacher Retirement System of Texas lifted its position in shares of AZEK by 166.9% in the fourth quarter. Teacher Retirement System of Texas now owns 31,870 shares of the company’s stock valued at $1,219,000 after acquiring an additional 19,927 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of 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 acquiring an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Insider Activity at AZEK

In related news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction 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 directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jonathan Skelly sold 12,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the transaction, the insider now owns 190,134 shares in the company, valued at $8,883,060.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $41.75, for a total value of $542,750.00. Following the sale, the chief executive officer now 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. In the last ninety days, insiders have sold 45,000 shares of company stock worth $1,932,790. 3.10% of the stock is currently owned by company insiders.

AZEK Price Performance

AZEK stock opened at $43.98 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $6.40 billion, a P/E ratio of 43.12, a PEG ratio of 1.29 and a beta of 1.87. The firm has a fifty day moving average of $42.30 and a 200-day moving average of $45.15. The AZEK Company Inc. has a 52-week low of $25.03 and a 52-week high of $50.78.

AZEK (NYSE:AZEK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $434.40 million during the quarter, compared to the consensus estimate of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. As a group, analysts predict that The AZEK Company Inc. will post 1.05 EPS for the current year.

AZEK announced that its board has initiated a stock repurchase plan on Monday, June 17th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on AZEK shares. The Goldman Sachs Group reduced their target price on shares of AZEK from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. UBS Group reduced their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Loop Capital lowered their target price on shares of AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of AZEK in a research note on Friday, August 9th. Finally, Barclays lowered their price objective on AZEK from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.24.

About AZEK

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.