Redmond Asset Management LLC Sells 563 Shares of The AZEK Company Inc. (NYSE:AZEK)

Redmond Asset Management LLC lowered its stake in shares of The AZEK Company Inc. (NYSE:AZEK) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,958 shares of the company’s stock after selling 563 shares during the period. Redmond Asset Management LLC’s holdings in AZEK were worth $2,466,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of AZEK during the 4th quarter worth $27,000. Farther Finance Advisors LLC lifted its holdings in AZEK by 183.1% during the third quarter. Farther Finance Advisors LLC now owns 753 shares of the company’s stock valued at $35,000 after purchasing an additional 487 shares during the last quarter. GAMMA Investing LLC boosted its position in 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. Blue Trust Inc. boosted its position in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $44,000 after purchasing an additional 480 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in AZEK during the third quarter worth about $59,000. Institutional investors own 97.44% of the company’s stock.

Insider Activity

In other AZEK news, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jesse G. Singh sold 20,387 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $50.08, for a total value of $1,020,980.96. Following the completion of the sale, the chief executive officer now directly owns 883,765 shares of the company’s stock, valued at $44,258,951.20. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,709 shares of company stock valued at $3,060,151. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AZEK shares. JPMorgan Chase & Co. lifted their price objective on shares of AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Robert W. Baird lifted their price target on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. DA Davidson lifted their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Citigroup raised AZEK from a “neutral” rating to a “buy” rating and lifted their target price for the company from $51.00 to $60.00 in a report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their target price on AZEK from $52.00 to $59.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AZEK presently has a consensus rating of “Moderate Buy” and an average price target of $54.85.

AZEK Price Performance

Shares of AZEK stock opened at $46.16 on Friday. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.94. The company has a fifty day moving average of $49.36 and a 200-day moving average of $46.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.56.

AZEK (NYSE:AZEK) last posted 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%. Equities research analysts expect that The AZEK Company Inc. will post 1.34 EPS for the current year.

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.