Assenagon Asset Management S.A. Sells 510,263 Shares of The AZEK Company Inc. (NYSE:AZEK)

Assenagon Asset Management S.A. decreased its position in shares of The AZEK Company Inc. (NYSE:AZEK) by 86.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,848 shares of the company’s stock after selling 510,263 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of AZEK worth $3,838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of AZEK by 8.1% in the second quarter. Envestnet Asset Management Inc. now owns 203,302 shares of the company’s stock worth $8,565,000 after buying an additional 15,317 shares during the period. Dimensional Fund Advisors LP grew its position in AZEK by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,354,096 shares of the company’s stock valued at $99,175,000 after acquiring an additional 118,351 shares during the last quarter. Amalgamated Bank increased its stake in AZEK by 19.2% in the second quarter. Amalgamated Bank now owns 9,279 shares of the company’s stock worth $391,000 after purchasing an additional 1,492 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of AZEK by 15.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,169 shares of the company’s stock worth $260,000 after purchasing an additional 803 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of AZEK by 203.7% during the second quarter. Hsbc Holdings PLC now owns 142,142 shares of the company’s stock valued at $5,960,000 after purchasing an additional 95,332 shares during the period. Hedge funds and other institutional investors own 97.44% of the company’s stock.

AZEK Stock Performance

AZEK opened at $50.20 on Wednesday. The firm’s 50-day moving average price is $49.85 and its 200-day moving average price is $45.75. The company has a market cap of $7.18 billion, a P/E ratio of 48.27, a price-to-earnings-growth ratio of 2.25 and a beta of 1.94. The company has a quick ratio of 1.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.32. The AZEK Company Inc. has a 52-week low of $35.48 and a 52-week high of $54.91.

Insider Buying and Selling at AZEK

In other news, CMO Samara Toole sold 1,709 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jesse G. Singh sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 923,765 shares of the company’s stock, valued at approximately $49,255,149.80. This trade represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,322 shares of company stock worth $2,039,170. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on AZEK shares. Truist Financial raised their price target on shares of AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Loop Capital downgraded shares of AZEK from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a research note on Friday, October 4th. The Goldman Sachs Group increased their price objective on AZEK from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays lifted their target price on AZEK from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price target on AZEK from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.73.

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.