American Century Companies Inc. Sells 1,341,427 Shares of The AZEK Company Inc. (NYSE:AZEK)

American Century Companies Inc. decreased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 62.1% during the fourth quarter, according to the company in its most recent filing 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 period. American Century Companies Inc. owned 0.57% of AZEK worth $38,890,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of AZEK by 39.1% in the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Truist Financial Corp increased its stake in AZEK by 1.6% in the 4th quarter. Truist Financial Corp now owns 16,706 shares of the company’s stock worth $793,000 after buying an additional 255 shares in the last quarter. Investment House LLC increased its stake in AZEK by 0.7% in the 4th quarter. Investment House LLC now owns 39,255 shares of the company’s stock worth $1,863,000 after buying an additional 290 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in AZEK by 13.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,040 shares of the company’s stock valued at $146,000 after acquiring an additional 352 shares during the period. Finally, Norden Group LLC lifted its position in shares of AZEK by 2.4% in the fourth quarter. Norden Group LLC now owns 21,204 shares of the company’s stock valued at $1,007,000 after acquiring an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AZEK has been the subject of several research analyst reports. Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research report on Wednesday. BMO Capital Markets increased their price objective on shares of AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a report on Monday. Citigroup reissued a “neutral” rating and issued a $51.50 target price (down previously from $61.00) on shares of AZEK in a report on Tuesday. Royal Bank of Canada raised their target price on shares of AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Baird R W cut shares of AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, AZEK currently has a consensus rating of “Hold” and an average target price of $54.32.

Insider Activity

In related news, CEO Jesse G. Singh sold 19,613 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $44.98, for a total transaction of $882,192.74. Following the transaction, the chief executive officer now directly owns 904,152 shares in the company, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 55,000 shares of company stock valued at $2,518,624. 3.20% of the stock is currently owned by company insiders.

AZEK Trading Up 1.9 %

Shares of NYSE AZEK opened at $49.77 on Friday. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19. The business’s 50 day moving average is $47.41 and its two-hundred day moving average is $47.31. The stock has a market capitalization of $7.15 billion, a P/E ratio of 50.27, a PEG ratio of 1.91 and a beta of 1.95.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, beating 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%. As a group, research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.