Allspring Global Investments Holdings LLC Has $35.17 Million Stock Holdings in The AZEK Company Inc. (NYSE:AZEK)

Allspring Global Investments Holdings LLC lessened its position in The AZEK Company Inc. (NYSE:AZEKFree Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 746,854 shares of the company’s stock after selling 24,145 shares during the period. Allspring Global Investments Holdings LLC owned about 0.52% of AZEK worth $35,169,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Equitable Trust Co. boosted its stake in shares of AZEK by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 10,346 shares of the company’s stock valued at $484,000 after purchasing an additional 226 shares in the last quarter. GAMMA Investing LLC boosted 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 boosted its stake in shares of AZEK by 6.6% in the 3rd quarter. Creative Planning now owns 6,987 shares of the company’s stock valued at $327,000 after purchasing an additional 430 shares in the last quarter. Covestor Ltd lifted 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 buying an additional 436 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in AZEK by 106.4% during the 3rd quarter. Blue Trust Inc. now owns 931 shares of the company’s stock worth $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.

Insider Activity

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

AZEK Stock Performance

Shares of 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 cap of $7.17 billion, a PE ratio of 50.66, a price-to-earnings-growth ratio of 2.19 and a beta of 1.94. The stock has a 50-day moving average of $49.85 and a 200-day moving average of $46.60. The AZEK Company Inc. has a one year low of $35.48 and a one year high of $54.91.

AZEK (NYSE:AZEKGet Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.17 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that The AZEK Company Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of AZEK from $52.00 to $54.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Truist Financial upped their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Robert W. Baird upped their price target on shares of AZEK from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of AZEK in a research report on Thursday, November 21st. Finally, DA Davidson upped their price target on shares of AZEK from $44.00 to $50.00 and gave the stock a “neutral” rating in a research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.85.

Read Our Latest Report on AZEK

About AZEK

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for AZEK (NYSE:AZEK)

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