The AZEK Company Inc. (NYSE:AZEK) Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in The AZEK Company Inc. (NYSE:AZEK) by 28.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 965,863 shares of the company’s stock after selling 381,472 shares during the period. Allspring Global Investments Holdings LLC’s holdings in AZEK were worth $48,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS Group AG increased its holdings in shares of AZEK by 245.4% in the 3rd quarter. UBS Group AG now owns 70,594 shares of the company’s stock valued at $2,099,000 after acquiring an additional 50,158 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of AZEK by 33.8% during 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 period. Mariner LLC lifted its position in shares of AZEK by 4.4% in the 3rd quarter. Mariner LLC now owns 16,398 shares of the company’s stock worth $488,000 after buying an additional 687 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of AZEK by 8.1% in the 3rd quarter. Northern Trust Corp now owns 1,062,031 shares of the company’s stock valued at $31,585,000 after buying an additional 79,229 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of AZEK by 8.2% in the 3rd quarter. Treasurer of the State of North Carolina now owns 57,926 shares of the company’s stock valued at $1,723,000 after buying an additional 4,370 shares during the period. 97.44% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jonathan Skelly sold 12,000 shares of AZEK stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the transaction, the insider now directly 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 available through this hyperlink. In other news, insider Jonathan Skelly sold 12,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total transaction of $560,640.00. Following the completion of the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $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 business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $45.97, for a total value of $597,610.00. Following the sale, the chief executive officer now directly owns 1,070,444 shares in the company, valued at $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 90 days. 3.10% of the stock is currently owned by company insiders.

AZEK Stock Performance

Shares of NYSE AZEK opened at $40.66 on Thursday. The AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.21 and a current ratio of 3.40. The stock has a fifty day moving average price of $45.60 and a two-hundred day moving average price of $44.37. The firm has a market cap of $5.92 billion, a P/E ratio of 39.86, a PEG ratio of 1.33 and a beta of 1.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Citigroup raised their target price on shares of AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Robert W. Baird cut their price target on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Benchmark began coverage on AZEK in a research report on Friday, April 19th. They set a “buy” rating and a $55.00 price objective for the company. Barclays boosted their price target on shares of AZEK from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, DA Davidson cut shares of AZEK from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $57.00 to $44.00 in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, AZEK has an average rating of “Moderate Buy” and a consensus target price of $45.26.

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.