Impax Asset Management Group plc Sells 29,275 Shares of The AZEK Company Inc. (NYSE:AZEK)

Impax Asset Management Group plc lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,537,176 shares of the company’s stock after selling 29,275 shares during the quarter. Impax Asset Management Group plc owned approximately 1.07% of AZEK worth $72,155,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of AZEK by 33.8% during the third quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock valued at $665,702,000 after acquiring an additional 3,595,863 shares during the period. FMR LLC increased its position in shares of AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after acquiring an additional 2,497,074 shares during the last quarter. State Street Corp raised its holdings in shares of AZEK by 1.9% in the 3rd 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. Geode Capital Management LLC boosted its position in AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock worth $109,105,000 after purchasing an additional 12,644 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of AZEK by 4.7% during the third quarter. JPMorgan Chase & Co. now owns 1,999,232 shares of the company’s stock worth $93,564,000 after purchasing an additional 90,206 shares during the period. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

AZEK stock opened at $46.16 on Monday. 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 AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a market cap of $6.63 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.94. The stock’s fifty day moving average price is $49.36 and its 200-day moving average price is $46.91.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a net margin of 9.85% and a return on equity of 13.47%. On average, equities analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In other AZEK news, CMO Samara Toole sold 1,709 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total transaction of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares of the company’s stock, valued at approximately $881,496. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,709 shares of company stock valued at $3,060,151 in the last quarter. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AZEK shares. Truist Financial upped their target price on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Barclays upped their price objective on shares of AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Robert W. Baird upped their target price on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Royal Bank of Canada boosted their target price on AZEK from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, BMO Capital Markets increased their price objective on AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.85.

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.