Segall Bryant & Hamill LLC Reduces Position in The AZEK Company Inc. (NYSE:AZEK)

Segall Bryant & Hamill LLC lowered its stake in The AZEK Company Inc. (NYSE:AZEK) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 748,411 shares of the company’s stock after selling 79,020 shares during the period. Segall Bryant & Hamill LLC owned 0.52% of AZEK worth $35,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AZEK. Congress Wealth Management LLC DE raised its stake in AZEK by 6.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 95,318 shares of the company’s stock worth $4,525,000 after acquiring an additional 6,073 shares during the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of AZEK during the fourth quarter worth about $451,000. Vanguard Group Inc. boosted its position in AZEK by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 14,430,833 shares of the company’s stock valued at $685,032,000 after buying an additional 54,725 shares during the last quarter. LPL Financial LLC increased its holdings in AZEK by 17.7% in the 4th quarter. LPL Financial LLC now owns 37,247 shares of the company’s stock worth $1,768,000 after buying an additional 5,589 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in AZEK during the 4th quarter worth approximately $1,512,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AZEK

In other AZEK news, CEO Jesse G. Singh sold 20,387 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now owns 883,765 shares in the company, valued at approximately $44,258,951.20. This represents a 2.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 55,000 shares of company stock worth $2,518,624. Corporate insiders own 3.20% of the company’s stock.

AZEK Stock Up 17.6 %

Shares of NYSE AZEK opened at $48.67 on Tuesday. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $47.39 and its 200-day simple moving average is $47.23. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 49.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. Equities analysts predict that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on AZEK. The Goldman Sachs Group increased their price objective on shares of AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and increased their price target for the stock from $51.00 to $60.00 in a research report on Monday, January 6th. William Blair restated a “market perform” rating on shares of AZEK in a research note on Monday. BMO Capital Markets lifted their price target on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Royal Bank of Canada upped their price objective on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.93.

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.