Grantham Mayo Van Otterloo & Co. LLC Sells 32,018 Shares of The AZEK Company Inc. (NYSE:AZEK)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in The AZEK Company Inc. (NYSE:AZEK) by 6.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 480,707 shares of the company’s stock after selling 32,018 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in AZEK were worth $22,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of AZEK in the third quarter valued at $59,000. Janus Henderson Group PLC increased its position in shares of AZEK by 8.9% during the third quarter. Janus Henderson Group PLC now owns 63,791 shares of the company’s stock valued at $2,986,000 after buying an additional 5,200 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of AZEK in the third quarter worth about $253,000. Stifel Financial Corp boosted its position in shares of AZEK by 24.7% in the third quarter. Stifel Financial Corp now owns 22,481 shares of the company’s stock valued at $1,052,000 after acquiring an additional 4,454 shares during the period. Finally, State Street Corp grew its stake in AZEK by 1.9% during the third quarter. State Street Corp now owns 2,451,483 shares of the company’s stock valued at $114,729,000 after acquiring an additional 45,774 shares in the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

AZEK Trading Down 4.0 %

Shares of NYSE AZEK opened at $46.25 on Friday. 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. The firm has a 50-day moving average of $47.18 and a 200 day moving average of $47.58. The stock has a market cap of $6.65 billion, a P/E ratio of 46.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse G. Singh sold 19,613 shares of the company’s 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 transaction, the chief executive officer now owns 904,152 shares in the company, valued at approximately $40,668,756.96. This represents a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 55,000 shares of company stock worth $2,518,624 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. William Blair reissued a “market perform” rating on shares of AZEK in a report on Monday, March 24th. Baird R W lowered AZEK from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Royal Bank of Canada upped their target price on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. The Goldman Sachs Group lifted their price target on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, BMO Capital Markets increased their target price on AZEK from $54.00 to $57.00 and gave the company a “market perform” rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, AZEK has a consensus rating of “Hold” and a consensus price target of $54.32.

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.