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Jesse G. Singh, CEO and President of AZEK Co Inc. (NYSE:AZEK), recently sold a portion of his shares in the company, according to a filing with the Securities and Exchange Commission. On March 10, Singh sold a total of 14,000 shares of Class A Common Stock, generating proceeds of approximately $615,444. The shares were sold at prices ranging from $40.59 to $41.74 per share. The transaction comes as AZEK’s stock has experienced significant volatility, with InvestingPro data showing a nearly 10% decline in the past week and a 16% decrease over the past year.
Following these transactions, Singh retains direct ownership of 868,765 shares. The sales were conducted automatically under a Rule 10b5-1 trading plan that Singh adopted in August 2024. The company maintains strong financial health with a current ratio of 2.56, indicating solid liquidity, and operates with a moderate debt level.
In addition to his direct holdings, Singh maintains indirect ownership of additional shares through a trust. The transactions reflect a strategic financial decision by Singh while maintaining a significant stake in the company. For deeper insights into AZEK’s valuation and financial metrics, including 14 additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, AZEK Company Inc. reported a strong performance in the first quarter of fiscal 2025, surpassing both earnings and revenue expectations. The company posted an earnings per share of $0.17, exceeding the forecasted $0.13, and reported revenues of $285.4 million, beating the expected $264.72 million. Additionally, AZEK announced the acquisition of Northwest Polymers, a move aimed at enhancing its recycling capabilities and supporting its growth strategy. This acquisition is expected to improve cost efficiencies and support the company’s FULL-CIRCLE PVC Recycling® program in the western United States.
AZEK’s shareholders recently approved significant charter amendments, which included removing references to former private equity sponsors. However, a proposed amendment to remove the sponsors’ exemption from certain business combination restrictions did not pass. The company also re-elected eight directors to its board and ratified PricewaterhouseCoopers LLP as its independent auditor for the fiscal year ending September 30, 2025. In terms of analyst perspectives, AZEK has not seen any recent upgrades or downgrades, but its strong earnings performance has been noted.
These developments reflect AZEK’s ongoing efforts to strengthen its governance structure and expand its recycling capabilities, aligning with its strategic goals and market demands. The company’s focus on sustainable product innovation and strategic acquisitions positions it well in the market, despite challenges in its commercial segment.
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