Sumitomo Mitsui Trust Holdings Inc. Sells 4,519 Shares of The AZEK Company Inc. (NYSE:AZEK)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in The AZEK Company Inc. (NYSE:AZEK) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,694 shares of the company’s stock after selling 4,519 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in AZEK were worth $1,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AZEK. Lecap Asset Management Ltd. bought a new stake in AZEK in the 4th quarter valued at $1,134,000. WCM Investment Management LLC increased its holdings in AZEK by 2.2% in the 4th quarter. WCM Investment Management LLC now owns 669,007 shares of the company’s stock valued at $25,857,000 after acquiring an additional 14,395 shares during the last quarter. Redwood Investments LLC bought a new stake in AZEK in the 4th quarter valued at $2,893,000. Gradient Investments LLC increased its holdings in AZEK by 133,498.0% in the 4th quarter. Gradient Investments LLC now owns 133,598 shares of the company’s stock valued at $5,110,000 after acquiring an additional 133,498 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in AZEK in the 4th quarter valued at $434,000. 97.44% of the stock is currently owned by institutional investors.

AZEK Price Performance

AZEK stock opened at $45.55 on Friday. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.99 and a quick ratio of 1.67. The AZEK Company Inc. has a 1 year low of $23.08 and a 1 year high of $50.78. The firm has a 50-day moving average of $47.82 and a two-hundred day moving average of $39.02.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.03 by $0.05. AZEK had a net margin of 8.57% and a return on equity of 9.61%. The business had revenue of $240.44 million during the quarter, compared to analyst estimates of $234.12 million. On average, research analysts forecast that The AZEK Company Inc. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AZEK. Truist Financial lifted their price objective on shares of AZEK from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. BMO Capital Markets lifted their price objective on shares of AZEK from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. B. Riley lifted their price objective on shares of AZEK from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stephens lifted their price objective on shares of AZEK from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, Citigroup lifted their price objective on shares of AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, AZEK presently has an average rating of “Moderate Buy” and an average target price of $44.11.

Insider Activity

In other news, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.47, for a total value of $4,671,501.57. Following the completion of the sale, the insider now owns 23,544 shares in the company, valued at approximately $1,164,721.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $45.34, for a total transaction of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares in the company, valued at approximately $53,702,690.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michelle A. Kasson sold 94,431 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.47, for a total transaction of $4,671,501.57. Following the transaction, the insider now owns 23,544 shares of the company’s stock, valued at approximately $1,164,721.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,431 shares of company stock worth $6,356,622. 3.10% of the stock is currently 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.