Vaughan Nelson Investment Management L.P. Has $33.43 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Vaughan Nelson Investment Management L.P. reduced its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 704,185 shares of the company's stock after selling 31,825 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.49% of AZEK worth $33,428,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Equitable Trust Co. grew its position in AZEK by 2.2% during the third quarter. Equitable Trust Co. now owns 10,346 shares of the company's stock valued at $484,000 after acquiring an additional 226 shares during the period. GAMMA Investing LLC lifted its stake in shares of AZEK by 39.1% in the 4th quarter. GAMMA Investing LLC now owns 851 shares of the company's stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Creative Planning grew its holdings in shares of AZEK by 6.6% during the 3rd quarter. Creative Planning now owns 6,987 shares of the company's stock worth $327,000 after purchasing an additional 430 shares during the period. Covestor Ltd increased its position in AZEK by 18.8% during the 3rd quarter. Covestor Ltd now owns 2,758 shares of the company's stock worth $129,000 after purchasing an additional 436 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in AZEK by 106.4% during the third quarter. Blue Trust Inc. now owns 931 shares of the company's stock valued at $44,000 after buying an additional 480 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AZEK. Robert W. Baird raised their target price on shares of AZEK from $54.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, February 5th. Citigroup raised AZEK from a "neutral" rating to a "buy" rating and raised their price objective for the company from $51.00 to $60.00 in a research report on Monday, January 6th. Truist Financial upped their target price on AZEK from $52.00 to $57.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. BMO Capital Markets raised their target price on AZEK from $52.00 to $54.00 and gave the company a "market perform" rating in a report on Thursday, February 6th. Finally, DA Davidson upped their price target on AZEK from $44.00 to $50.00 and gave the stock a "neutral" rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, AZEK has an average rating of "Moderate Buy" and an average price target of $54.85.

Insider Buying and Selling at AZEK

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction dated 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 transaction, the chief executive officer now directly owns 923,765 shares in the company, valued at approximately $49,255,149.80. The trade was a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Samara Toole sold 1,709 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $53.00, for a total value of $90,577.00. Following the completion of the sale, the chief marketing officer now directly owns 16,632 shares of the company's stock, valued at $881,496. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,709 shares of company stock valued at $3,060,151 in the last three months. 3.20% of the stock is currently owned by company insiders.

AZEK Stock Performance

Shares of NYSE AZEK traded down $1.16 during midday trading on Wednesday, hitting $49.07. 1,260,219 shares of the company's stock were exchanged, compared to its average volume of 1,599,915. The AZEK Company Inc. has a twelve month low of $35.48 and a twelve month high of $54.91. The firm has a market cap of $7.02 billion, a P/E ratio of 49.57, a PEG ratio of 2.19 and a beta of 1.94. The stock's 50 day moving average price is $50.01 and its 200-day moving average price is $46.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.14.

AZEK (NYSE:AZEK - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.17 earnings per share 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%. Equities research analysts anticipate that The AZEK Company Inc. will post 1.29 EPS for the current 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.