Vaughan Nelson Investment Management L.P. Purchases 373,156 Shares of The AZEK Company Inc. (NYSE:AZEK)

Vaughan Nelson Investment Management L.P. lifted its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 143.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 633,727 shares of the company’s stock after purchasing an additional 373,156 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.43% of AZEK worth $31,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its holdings in shares of AZEK by 45.9% during the fourth quarter. Quadrant Capital Group LLC now owns 728 shares of the company’s stock worth $28,000 after purchasing an additional 229 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of AZEK during the fourth quarter worth about $44,000. CWM LLC grew its holdings in shares of AZEK by 81.3% during the fourth quarter. CWM LLC now owns 2,022 shares of the company’s stock worth $77,000 after purchasing an additional 907 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of AZEK by 80.4% during the fourth quarter. Federated Hermes Inc. now owns 4,353 shares of the company’s stock worth $167,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of AZEK during the first quarter worth about $227,000. 97.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays lifted their price objective on AZEK from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Robert W. Baird cut their price objective on AZEK from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Benchmark assumed coverage on AZEK in a research note on Friday, April 19th. They issued a “buy” rating and a $55.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $57.00 price objective on shares of AZEK in a research note on Tuesday, June 18th. Finally, Citigroup lifted their price objective on AZEK from $46.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.33.

Insider Activity

In other news, CEO Jesse G. Singh sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $45.97, for a total transaction of $597,610.00. Following the completion of the sale, the chief executive officer now owns 1,070,444 shares in the company, valued at $49,208,310.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jonathan Skelly sold 12,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.72, for a total value of $560,640.00. Following the completion of the sale, the insider now directly owns 190,134 shares of the company’s stock, valued at approximately $8,883,060.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse G. Singh sold 13,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $45.97, for a total value of $597,610.00. Following the completion of the sale, the chief executive officer now directly owns 1,070,444 shares of the company’s stock, valued at $49,208,310.68. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock worth $1,786,150 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

AZEK Trading Up 0.8 %

NYSE AZEK opened at $41.63 on Wednesday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 40.81, a P/E/G ratio of 1.33 and a beta of 1.88. The AZEK Company Inc. has a 52 week low of $25.03 and a 52 week high of $50.78. The business has a 50 day moving average price of $45.69 and a 200-day moving average price of $44.40. The company has a quick ratio of 2.21, a current ratio of 3.40 and a debt-to-equity ratio of 0.42.

About AZEK

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.