Assenagon Asset Management S.A. Trims Holdings in The AZEK Company Inc. (NYSE:AZEK)

Assenagon Asset Management S.A. lowered its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 6.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 591,111 shares of the company's stock after selling 44,133 shares during the quarter. Assenagon Asset Management S.A. owned about 0.41% of AZEK worth $27,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of AZEK by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 13,482,323 shares of the company's stock valued at $677,082,000 after acquiring an additional 413,297 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in AZEK by 180.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,912 shares of the company's stock valued at $1,856,000 after purchasing an additional 23,746 shares during the last quarter. Duality Advisers LP acquired a new stake in AZEK during the 1st quarter worth about $1,357,000. Bessemer Group Inc. raised its stake in shares of AZEK by 6.7% during the 1st quarter. Bessemer Group Inc. now owns 308,554 shares of the company's stock valued at $15,494,000 after buying an additional 19,274 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in shares of AZEK by 1,234.4% in the 1st quarter. Norden Group LLC now owns 144,234 shares of the company's stock valued at $7,243,000 after buying an additional 133,425 shares during the period. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AZEK. Barclays dropped their target price on AZEK from $58.00 to $52.00 and set an "overweight" rating on the stock in a report on Friday, July 12th. Citigroup decreased their price objective on shares of AZEK from $50.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. DA Davidson lowered shares of AZEK from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $57.00 to $44.00 in a research note on Wednesday, July 3rd. The Goldman Sachs Group cut their price target on AZEK from $56.00 to $50.00 and set a "buy" rating for the company in a research note on Wednesday, July 10th. Finally, UBS Group reduced their price target on AZEK from $47.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. 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.com, AZEK has an average rating of "Moderate Buy" and an average target price of $48.12.

AZEK Price Performance

Shares of AZEK stock traded down $0.06 during trading hours on Friday, reaching $42.55. 1,470,614 shares of the company's stock were exchanged, compared to its average volume of 1,726,213. The business has a fifty day moving average of $43.71 and a two-hundred day moving average of $44.25. The company has a market capitalization of $6.19 billion, a P/E ratio of 41.72, a price-to-earnings-growth ratio of 1.10 and a beta of 1.88. 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 AZEK Company Inc. has a 1 year low of $25.03 and a 1 year high of $50.78.

AZEK (NYSE:AZEK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $434.40 million during the quarter, compared to analysts' expectations of $396.89 million. During the same quarter in the prior year, the company earned $0.29 EPS. AZEK's revenue was up 12.1% compared to the same quarter last year. As a group, research analysts predict that The AZEK Company Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Activity at AZEK

In related news, Director Pamela J. Edwards bought 600 shares of the business's stock in a transaction on Thursday, August 15th. The stock was acquired 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Pamela J. Edwards bought 600 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $41.70 per share, for a total transaction of $25,020.00. Following the acquisition, the director now directly owns 8,708 shares of the company's stock, valued at $363,123.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jesse G. Singh sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.47, for a total transaction of $829,400.00. Following the sale, the chief executive officer now owns 186,705 shares of the company's stock, valued at $7,742,656.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.

AZEK 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.