Sei Investments Co. Sells 14,833 Shares of The AZEK Company Inc. (NYSE:AZEK)

Sei Investments Co. lessened its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 4.3% during the fourth quarter, Holdings Channel reports. The firm owned 332,492 shares of the company’s stock after selling 14,833 shares during the quarter. Sei Investments Co.’s holdings in AZEK were worth $15,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC purchased a new position in shares of AZEK during the fourth quarter valued at approximately $27,000. Avalon Trust Co bought a new stake in AZEK in the fourth quarter valued at $38,000. GAMMA Investing LLC increased its position in AZEK by 39.1% during the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock valued at $40,000 after purchasing an additional 239 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK in the 3rd quarter worth $59,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of AZEK in the 3rd quarter worth about $84,000. Institutional investors own 97.44% of the company’s stock.

AZEK Stock Down 0.3 %

NYSE:AZEK opened at $49.65 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56. The firm has a market cap of $7.13 billion, a P/E ratio of 50.15, a P/E/G ratio of 1.91 and a beta of 1.95. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91. The firm has a 50-day simple moving average of $47.40 and a two-hundred day simple moving average of $47.37.

AZEK (NYSE:AZEK) last announced 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 net margin of 9.85% and a return on equity of 13.47%. Analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AZEK has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada upped their target price on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. William Blair restated a “market perform” rating on shares of AZEK in a research note on Monday, March 24th. Barclays upped their price target on AZEK from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Citigroup reissued a “neutral” rating and set a $51.50 price objective (down previously from $61.00) on shares of AZEK in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, AZEK presently has a consensus rating of “Hold” and a consensus price target of $54.32.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 15,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the sale, the chief executive officer now directly owns 868,765 shares of the company’s stock, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 55,000 shares of company stock valued at $2,518,624. Corporate insiders own 3.20% of the company’s stock.

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.