abrdn plc Sells 44,650 Shares of The AZEK Company Inc. (NYSE:AZEK)

abrdn plc decreased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 548,513 shares of the company’s stock after selling 44,650 shares during the period. abrdn plc’s holdings in AZEK were worth $25,670,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AZEK. Principal Financial Group Inc. boosted its position in shares of AZEK by 46.9% during the 1st quarter. Principal Financial Group Inc. now owns 12,189 shares of the company’s stock worth $612,000 after acquiring an additional 3,889 shares in the last quarter. Norden Group LLC boosted its position in AZEK by 47.7% in the first quarter. Norden Group LLC now owns 15,961 shares of the company’s stock valued at $802,000 after buying an additional 5,152 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in AZEK in the first quarter valued at approximately $469,000. Precision Wealth Strategies LLC acquired a new stake in AZEK in the first quarter valued at approximately $416,000. Finally, Capstone Investment Advisors LLC acquired a new stake in AZEK in the first quarter valued at approximately $496,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

Insider Buying and Selling at AZEK

In related news, Director Pamela J. Edwards bought 600 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the completion of the purchase, the director now directly owns 8,708 shares in the company, valued at $363,123.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total value of $829,400.00. Following the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at $7,742,656.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela J. Edwards purchased 600 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the transaction, the director now owns 8,708 shares of the company’s stock, 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. Corporate insiders own 3.10% of the company’s stock.

AZEK Stock Down 1.5 %

AZEK stock opened at $44.01 on Friday. The AZEK Company Inc. has a fifty-two week low of $25.73 and a fifty-two week high of $50.78. The stock has a market cap of $6.37 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88. The firm’s 50-day simple moving average is $43.93 and its 200 day simple moving average is $44.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07.

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

Analysts Set New Price Targets

A number of analysts have weighed in on AZEK shares. Stifel Nicolaus cut their target price on shares of AZEK from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Citigroup cut their target price on shares of AZEK from $50.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets raised their target price on shares of AZEK from $46.00 to $49.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial cut their price target on shares of AZEK from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

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.