US Bancorp DE Lowers Holdings in The AZEK Company Inc. (NYSE:AZEK)

US Bancorp DE lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 24.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,502 shares of the company’s stock after selling 4,042 shares during the quarter. US Bancorp DE’s holdings in AZEK were worth $585,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AZEK. ORG Wealth Partners LLC acquired a new position in shares of AZEK during the 3rd quarter worth $31,000. Paladin Wealth LLC acquired a new position in AZEK during the third quarter worth about $39,000. Blue Trust Inc. grew 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 buying an additional 480 shares during the period. Versant Capital Management Inc increased its holdings in AZEK by 5,452.2% in the second quarter. Versant Capital Management Inc now owns 1,277 shares of the company’s stock valued at $54,000 after buying an additional 1,254 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of AZEK during the 2nd quarter worth approximately $90,000. Institutional investors and hedge funds own 97.44% of the company’s stock.

AZEK Price Performance

Shares of NYSE:AZEK opened at $47.04 on Monday. The business has a fifty day simple moving average of $44.26 and a 200-day simple moving average of $44.16. The AZEK Company Inc. has a 52 week low of $27.81 and a 52 week high of $50.78. The company has a market cap of $6.81 billion, a P/E ratio of 41.63, a P/E/G ratio of 1.17 and a beta of 1.88. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41.

Analyst Ratings Changes

Several equities analysts recently weighed in on AZEK shares. Stifel Nicolaus dropped their price objective on AZEK from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group cut their price target on AZEK from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on shares of AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Truist Financial reduced 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.12.

Insider Buying and Selling at AZEK

In related news, Director Pamela J. Edwards purchased 600 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $41.70 per share, with a total value of $25,020.00. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Pamela J. Edwards acquired 600 shares of AZEK stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now directly owns 8,708 shares of the company’s stock, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

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.