Impax Asset Management Group plc Has $72.53 Million Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Impax Asset Management Group plc cut its holdings in The AZEK Company Inc. (NYSE:AZEK) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,566,451 shares of the company’s stock after selling 63,275 shares during the quarter. Impax Asset Management Group plc’s holdings in AZEK were worth $72,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company’s stock valued at $677,082,000 after buying an additional 413,297 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AZEK by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock worth $99,175,000 after purchasing an additional 118,351 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of AZEK in the second quarter worth $86,719,000. Westfield Capital Management Co. LP increased its holdings in AZEK by 1.7% in the first quarter. Westfield Capital Management Co. LP now owns 1,487,700 shares of the company’s stock valued at $74,712,000 after purchasing an additional 25,515 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in AZEK by 66.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,466,145 shares of the company’s stock valued at $73,631,000 after purchasing an additional 587,107 shares during the period. Institutional investors own 97.44% of the company’s stock.

AZEK Price Performance

AZEK stock opened at $44.44 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07. The business has a 50-day simple moving average of $43.93 and a two-hundred day simple moving average of $44.14. The company has a market capitalization of $6.43 billion, a P/E ratio of 39.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.88. The AZEK Company Inc. has a 52-week low of $27.60 and a 52-week high of $50.78.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. AZEK’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Research analysts expect that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Analyst Ratings Changes

AZEK has been the subject of several recent research reports. UBS Group decreased their price target on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price target on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Loop Capital lowered shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price objective on the stock. in a research note on Friday, October 4th. Citigroup lowered their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, AZEK presently has an average rating of “Moderate Buy” and an average target price of $48.12.

Insider Buying and Selling

In other AZEK news, CEO Jesse G. Singh sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Pamela J. Edwards acquired 600 shares of AZEK stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.10% of the stock is owned by corporate insiders.

About AZEK

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.