Allspring Global Investments Holdings LLC Sells 24,145 Shares of The AZEK Company Inc. (NYSE:AZEK)

Allspring Global Investments Holdings LLC reduced its holdings in shares of The AZEK Company Inc. (NYSE:AZEK) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 746,854 shares of the company’s stock after selling 24,145 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in AZEK were worth $35,169,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in AZEK. Wellington Management Group LLP grew its stake in shares of AZEK by 33.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,224,410 shares of the company’s stock worth $665,702,000 after acquiring an additional 3,595,863 shares in the last quarter. FMR LLC boosted its holdings in shares of AZEK by 57.9% in the 3rd quarter. FMR LLC now owns 6,811,591 shares of the company’s stock valued at $318,782,000 after buying an additional 2,497,074 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of AZEK by 73.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,006,253 shares of the company’s stock valued at $47,093,000 after buying an additional 425,609 shares during the last quarter. Gradient Investments LLC boosted its holdings in shares of AZEK by 834.9% in the 4th quarter. Gradient Investments LLC now owns 410,233 shares of the company’s stock valued at $19,474,000 after buying an additional 366,352 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of AZEK by 38.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 719,568 shares of the company’s stock valued at $33,676,000 after buying an additional 200,746 shares during the last quarter. 97.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CMO Samara Toole sold 1,709 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $53.00, for a total value of $90,577.00. Following the transaction, the chief marketing officer now owns 16,632 shares in the company, valued at approximately $881,496. This trade represents a 9.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $53.32, for a total value of $1,066,400.00. Following the completion of the transaction, the chief executive officer now owns 923,765 shares in the company, valued at $49,255,149.80. The trade was a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,709 shares of company stock worth $3,060,151. Company insiders own 3.20% of the company’s stock.

AZEK Stock Up 0.4 %

AZEK stock opened at $50.16 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 2.19 and a beta of 1.94. The business’s fifty day moving average price is $49.85 and its two-hundred day moving average price is $46.60. The AZEK Company Inc. has a fifty-two week low of $35.48 and a fifty-two week high of $54.91.

AZEK (NYSE:AZEK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. AZEK had a return on equity of 13.47% and a net margin of 9.85%. On average, equities analysts anticipate that The AZEK Company Inc. will post 1.29 earnings per share for the current year.

Analyst Ratings Changes

AZEK has been the subject of several recent analyst reports. Truist Financial increased their price objective on AZEK from $52.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Robert W. Baird raised their price target on AZEK from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. DA Davidson raised their price target on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price target on AZEK from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of AZEK in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AZEK has an average rating of “Moderate Buy” and an average price target of $54.85.

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.