WCM Investment Management LLC Sells 17,182 Shares of The AZEK Company Inc. (NYSE:AZEK)

WCM Investment Management LLC lowered its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,312 shares of the company’s stock after selling 17,182 shares during the period. WCM Investment Management LLC’s holdings in AZEK were worth $25,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZEK. Wellington Management Group LLP raised its position in shares of AZEK by 33.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after purchasing an additional 3,595,863 shares during the last quarter. FMR LLC raised its holdings in AZEK by 57.9% in the third quarter. FMR LLC now owns 6,811,591 shares of the company’s stock worth $318,782,000 after buying an additional 2,497,074 shares during the last quarter. State Street Corp lifted its stake in shares of AZEK by 1.9% in the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock worth $114,729,000 after buying an additional 45,774 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AZEK by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,330,636 shares of the company’s stock valued at $109,105,000 after buying an additional 12,644 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position 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 valued at $93,564,000 after acquiring an additional 90,206 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AZEK shares. DA Davidson upped their price objective on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group upped their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup upgraded AZEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $51.00 to $60.00 in a report on Monday, January 6th. BMO Capital Markets upped their target price on shares of AZEK from $52.00 to $54.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of AZEK in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.

AZEK Trading Down 1.8 %

Shares of AZEK stock opened at $50.11 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The stock has a market capitalization of $7.17 billion, a PE ratio of 50.62, a P/E/G ratio of 2.19 and a beta of 1.94. The AZEK Company Inc. has a 1-year low of $35.48 and a 1-year high of $54.91. The company’s fifty day simple moving average is $50.23 and its 200-day simple moving average is $46.41.

AZEK (NYSE:AZEK) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share (EPS) 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, equities analysts anticipate that The AZEK Company Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In other news, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the transaction, the chief marketing officer now owns 16,632 shares of the company’s stock, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jesse G. Singh sold 19,613 shares of AZEK stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $44.98, for a total value of $882,192.74. Following the sale, the chief executive officer now directly owns 904,152 shares in the company, valued at $40,668,756.96. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,322 shares of company stock valued at $2,039,170. 3.20% of the stock is owned by corporate insiders.

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.