Public Employees Retirement System of Ohio Trims Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Public Employees Retirement System of Ohio trimmed its holdings in The AZEK Company Inc. (NYSE:AZEK) by 15.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,806 shares of the company’s stock after selling 26,103 shares during the period. Public Employees Retirement System of Ohio owned about 0.10% of AZEK worth $7,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AZEK. Quadrant Capital Group LLC boosted its stake in AZEK by 45.9% during the 4th 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. Venturi Wealth Management LLC increased its holdings in AZEK by 58.9% in the first quarter. Venturi Wealth Management LLC now owns 707 shares of the company’s stock valued at $36,000 after buying an additional 262 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in AZEK by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 58,496 shares of the company’s stock valued at $2,237,000 after buying an additional 570 shares in the last quarter. ORG Partners LLC acquired a new position in shares of AZEK in the 1st quarter worth approximately $35,000. Finally, Whittier Trust Co. acquired a new position in shares of AZEK in the 1st quarter worth approximately $37,000. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Benchmark initiated coverage on AZEK in a research report on Friday, April 19th. They set a “buy” rating and a $55.00 price target on the stock. BMO Capital Markets lowered shares of AZEK from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $53.00 to $50.00 in a report on Tuesday, July 23rd. Truist Financial reissued a “buy” rating and issued a $57.00 target price on shares of AZEK in a report on Tuesday, June 18th. DA Davidson lowered AZEK from a “buy” rating to a “neutral” rating and lowered their target price for the company from $57.00 to $44.00 in a report on Wednesday, July 3rd. Finally, Loop Capital reduced their price objective on AZEK from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.72.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $41.75, for a total transaction of $542,750.00. Following the transaction, the chief executive officer now owns 1,024,444 shares in the company, valued at $42,770,537. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $542,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,024,444 shares in the company, valued at $42,770,537. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 190,134 shares in the company, valued at approximately $8,883,060.48. The disclosure for this sale can be found here. Insiders sold 38,000 shares of company stock worth $1,701,000 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

AZEK Trading Up 0.8 %

NYSE AZEK traded up $0.35 on Tuesday, hitting $45.87. 42,503 shares of the company were exchanged, compared to its average volume of 1,689,760. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.40 and a quick ratio of 2.21. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78. The firm has a market capitalization of $6.68 billion, a P/E ratio of 44.63, a price-to-earnings-growth ratio of 1.33 and a beta of 1.88. The company’s 50 day moving average price is $44.62 and its 200-day moving average price is $45.15.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Friday, June 14th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. AZEK had a net margin of 10.66% and a return on equity of 12.02%. The business had revenue of $418.41 million for the quarter, compared to analyst estimates of $416.79 million. Analysts predict that The AZEK Company Inc. will post 1.06 earnings per share for the current fiscal 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.