Assenagon Asset Management S.A. Sells 44,133 Shares of The AZEK Company Inc. (NYSE:AZEK)

Assenagon Asset Management S.A. lessened its stake in The AZEK Company Inc. (NYSE:AZEK) by 6.9% in the third quarter, HoldingsChannel reports. The fund owned 591,111 shares of the company’s stock after selling 44,133 shares during the period. Assenagon Asset Management S.A.’s holdings in AZEK were worth $27,664,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AZEK. Park Avenue Securities LLC bought a new stake in AZEK in the first quarter valued at approximately $227,000. Congress Wealth Management LLC DE boosted its position in AZEK by 2.8% during the 1st quarter. Congress Wealth Management LLC DE now owns 80,390 shares of the company’s stock valued at $4,037,000 after buying an additional 2,157 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in AZEK by 143.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 633,727 shares of the company’s stock worth $31,826,000 after acquiring an additional 373,156 shares during the last quarter. Norden Group LLC increased its position in shares of AZEK by 1,234.4% in the first quarter. Norden Group LLC now owns 144,234 shares of the company’s stock valued at $7,243,000 after acquiring an additional 133,425 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of AZEK by 46.9% during the first quarter. Principal Financial Group Inc. now owns 12,189 shares of the company’s stock valued at $612,000 after acquiring an additional 3,889 shares during the last quarter. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZEK has been the topic of a number of research analyst reports. Loop Capital downgraded AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a report on Friday, October 4th. Benchmark restated a “buy” rating and set a $55.00 target price on shares of AZEK in a report on Friday, August 9th. Royal Bank of Canada dropped their price target on AZEK from $49.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. UBS Group reduced their price objective on shares of AZEK from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of AZEK from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.12.

AZEK Stock Down 0.1 %

AZEK stock opened at $42.55 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.07 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average of $43.71 and a 200 day moving average of $44.29. The AZEK Company Inc. has a twelve month low of $25.03 and a twelve month high of $50.78. The firm has a market cap of $6.19 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88.

AZEK (NYSE:AZEK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $396.89 million. AZEK had a return on equity of 13.38% and a net margin of 11.35%. AZEK’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. On average, research analysts forecast that The AZEK Company Inc. will post 1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.47, for a total transaction of $829,400.00. Following the completion of the sale, the chief executive officer now owns 186,705 shares of the company’s stock, valued at $7,742,656.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jesse G. Singh sold 20,000 shares of AZEK 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 completion of the sale, the chief executive officer now directly owns 186,705 shares in the company, valued at approximately $7,742,656.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela J. Edwards bought 600 shares of the stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the purchase, the director now directly owns 8,708 shares in the company, valued at approximately $363,123.60. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.