abrdn plc Has $24.54 Million Holdings in The AZEK Company Inc. (NYSE:AZEK)

abrdn plc cut its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 20.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 641,496 shares of the company’s stock after selling 162,494 shares during the quarter. abrdn plc’s holdings in AZEK were worth $24,537,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AZEK. BluePath Capital Management LLC acquired a new stake in AZEK during the 3rd quarter worth about $31,000. CI Investments Inc. acquired a new stake in AZEK during the 3rd quarter worth about $153,000. Federated Hermes Inc. boosted its position in AZEK by 80.4% during the 4th quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock worth $167,000 after acquiring an additional 1,940 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in AZEK during the 3rd quarter worth about $200,000. Finally, Winthrop Advisory Group LLC acquired a new stake in shares of AZEK during the 4th quarter valued at about $211,000. 97.44% of the stock is currently owned by institutional investors and hedge funds.

AZEK Stock Performance

Shares of NYSE AZEK opened at $46.37 on Wednesday. The company has a quick ratio of 1.67, a current ratio of 2.99 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $47.80 and its two-hundred day moving average is $38.93. The company has a market cap of $6.85 billion, a P/E ratio of 58.70, a P/E/G ratio of 1.44 and a beta of 1.92. The AZEK Company Inc. has a 12 month low of $23.08 and a 12 month high of $50.78.

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

Analyst Ratings Changes

AZEK has been the subject of several research reports. B. Riley lifted their price target on AZEK from $40.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Stifel Nicolaus lifted their price target on AZEK from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada lifted their price target on AZEK from $43.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Citigroup lifted their price target on AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Finally, Stephens lifted their price target on AZEK from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.11.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of AZEK stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $45.34, for a total value of $589,420.00. Following the transaction, the chief executive officer now directly owns 1,184,444 shares of the company’s stock, valued at approximately $53,702,690.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Jonathan Skelly sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $46.78, for a total value of $467,800.00. Following the completion of the transaction, the insider now directly owns 180,784 shares in the company, valued at $8,457,075.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $45.34, for a total value of $589,420.00. Following the completion of the transaction, the chief executive officer now owns 1,184,444 shares of the company’s stock, valued at $53,702,690.96. The disclosure for this sale can be found here. Insiders have sold a total of 130,431 shares of company stock valued at $6,356,622 in the last three months. Company insiders own 3.10% of the company’s stock.

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.