Vaughan Nelson Investment Management L.P. Increases Stake in The AZEK Company Inc. (NYSE:AZEK)

Vaughan Nelson Investment Management L.P. boosted its stake in The AZEK Company Inc. (NYSE:AZEK) by 143.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,727 shares of the company’s stock after purchasing an additional 373,156 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in AZEK were worth $31,826,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AZEK. UBS Group AG boosted its holdings in AZEK by 245.4% in the third quarter. UBS Group AG now owns 70,594 shares of the company’s stock worth $2,099,000 after acquiring an additional 50,158 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of AZEK by 33.8% in the third quarter. Envestnet Asset Management Inc. now owns 201,825 shares of the company’s stock worth $6,002,000 after purchasing an additional 50,955 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of AZEK in the third quarter worth $1,379,000. Mariner LLC raised its stake in shares of AZEK by 4.4% in the third quarter. Mariner LLC now owns 16,398 shares of the company’s stock worth $488,000 after purchasing an additional 687 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of AZEK by 8.1% in the third quarter. Northern Trust Corp now owns 1,062,031 shares of the company’s stock worth $31,585,000 after purchasing an additional 79,229 shares during the last quarter. 97.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AZEK news, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares in the company, valued at $49,208,310.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Jonathan Skelly sold 12,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the transaction, the insider now owns 190,134 shares of the company’s stock, valued at $8,883,060.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jesse G. Singh sold 13,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the transaction, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at approximately $49,208,310.68. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,786,150 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AZEK has been the subject of several recent analyst reports. Truist Financial restated a “buy” rating and issued a $57.00 price target on shares of AZEK in a research note on Tuesday, June 18th. Benchmark initiated coverage on AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 price target for the company. Robert W. Baird decreased their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Barclays boosted their price target on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Citigroup upped their price objective on AZEK from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.33.

AZEK Stock Performance

Shares of AZEK opened at $41.63 on Wednesday. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $45.69 and a two-hundred day simple moving average of $44.40. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.33 and a beta of 1.88. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78.

AZEK Company 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.