Invesco Ltd. Sells 438,229 Shares of The AZEK Company Inc. (NYSE:AZEK)

Invesco Ltd. lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 19.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,818,346 shares of the company’s stock after selling 438,229 shares during the quarter. Invesco Ltd.’s holdings in AZEK were worth $86,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of AZEK during the fourth quarter worth $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in AZEK by 623.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 687 shares of the company’s stock worth $33,000 after acquiring an additional 592 shares during the period. Avalon Trust Co acquired a new position in shares of AZEK during the 4th quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in shares of AZEK by 39.1% during the fourth quarter. GAMMA Investing LLC now owns 851 shares of the company’s stock worth $40,000 after purchasing an additional 239 shares during the period. Finally, Blue Trust Inc. raised its position in shares of AZEK by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,808 shares of the company’s stock valued at $85,000 after buying an additional 877 shares in the last quarter. 97.44% of the stock is currently owned by institutional investors.

AZEK Stock Performance

AZEK stock opened at $47.35 on Monday. The business has a 50 day moving average of $46.40 and a 200-day moving average of $47.55. The company has a market capitalization of $6.80 billion, a P/E ratio of 47.83, a P/E/G ratio of 1.91 and a beta of 1.86. The AZEK Company Inc. has a 1 year low of $35.48 and a 1 year high of $54.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK) last announced 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 net margin of 9.85% and a return on equity of 13.47%. On average, equities research analysts predict that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jesse G. Singh sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $41.03, for a total transaction of $615,450.00. Following the completion of the transaction, the chief executive officer now directly owns 868,765 shares in the company, valued at $35,645,427.95. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on AZEK shares. Barclays lowered their price objective on AZEK from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Baird R W downgraded AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Stephens downgraded shares of AZEK from an “overweight” rating to a “mixed” rating in a research note on Monday, March 24th. Raymond James set a $51.50 target price on shares of AZEK in a research report on Tuesday, March 25th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of AZEK in a research report on Wednesday, March 26th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.40.

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.