Allspring Global Investments Holdings LLC Has $36.08 Million Position in The AZEK Company Inc. (NYSE:AZEK)

Allspring Global Investments Holdings LLC lessened its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 770,999 shares of the company's stock after selling 168,215 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.53% of AZEK worth $36,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of AZEK in the third quarter valued at approximately $31,000. ORG Partners LLC acquired a new position in AZEK in the first quarter valued at approximately $35,000. Whittier Trust Co. acquired a new stake in AZEK during the 1st quarter worth $37,000. Paladin Wealth LLC bought a new stake in shares of AZEK during the 3rd quarter valued at $39,000. Finally, Blue Trust Inc. lifted its stake in shares of AZEK by 106.4% in the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company's stock valued at $44,000 after purchasing an additional 480 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AZEK news, Director Pamela J. Edwards acquired 600 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $41.70 per share, for a total transaction of $25,020.00. Following the acquisition, the director now directly owns 8,708 shares in the company, valued at $363,123.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jesse G. Singh sold 20,000 shares of the business'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 value of $829,400.00. Following the transaction, the chief executive officer now owns 186,705 shares in the company, valued at approximately $7,742,656.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pamela J. Edwards bought 600 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $41.70 per share, with a total value of $25,020.00. Following the purchase, the director now directly owns 8,708 shares of the company's stock, valued at $363,123.60. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AZEK. Truist Financial decreased their price objective on shares of AZEK from $57.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price objective 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. DA Davidson cut shares of AZEK from a "buy" rating to a "neutral" rating and cut their price objective for the company from $57.00 to $44.00 in a research report on Wednesday, July 3rd. Stifel Nicolaus lowered their target price on AZEK from $52.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group cut their price target on AZEK from $56.00 to $50.00 and set a "buy" rating on the stock in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, AZEK currently has a consensus rating of "Moderate Buy" and an average target price of $48.12.

AZEK Stock Performance

NYSE:AZEK traded down $0.31 during mid-day trading on Wednesday, reaching $42.22. 1,283,150 shares of the company's stock were exchanged, compared to its average volume of 1,730,717. The AZEK Company Inc. has a one year low of $25.03 and a one year high of $50.78. The business's fifty day simple moving average is $43.62 and its two-hundred day simple moving average is $44.37. The firm has a market capitalization of $6.14 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.11 and a current ratio of 3.07.

AZEK (NYSE:AZEK - Get Free Report) 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. AZEK had a net margin of 11.35% and a return on equity of 13.38%. The business had revenue of $434.40 million for the quarter, compared to analyst estimates of $396.89 million. During the same quarter last year, the business posted $0.29 EPS. The firm's revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

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.