Assenagon Asset Management S.A. Boosts Stock Position in The AZEK Company Inc. (NYSE:AZEK)

Assenagon Asset Management S.A. grew its stake in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 1,280.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116,458 shares of the company's stock after acquiring an additional 1,035,610 shares during the period. Assenagon Asset Management S.A. owned about 0.78% of AZEK worth $54,584,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AZEK. Charles Schwab Investment Management Inc. lifted its position in shares of AZEK by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,169,551 shares of the company's stock worth $55,519,000 after purchasing an additional 24,249 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of AZEK in the fourth quarter worth $717,000. Raymond James Financial Inc. acquired a new stake in shares of AZEK in the fourth quarter worth $19,436,000. Sanctuary Advisors LLC increased its position in AZEK by 6.1% during the fourth quarter. Sanctuary Advisors LLC now owns 11,918 shares of the company's stock worth $620,000 after acquiring an additional 689 shares during the period. Finally, Principal Financial Group Inc. increased its position in AZEK by 1,047.4% during the fourth quarter. Principal Financial Group Inc. now owns 135,364 shares of the company's stock worth $6,426,000 after acquiring an additional 123,567 shares during the period. 97.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AZEK has been the topic of several analyst reports. William Blair reissued a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Citigroup restated a "neutral" rating and set a $51.50 target price (down from $61.00) on shares of AZEK in a research report on Tuesday, March 25th. Barclays increased their price target on shares of AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Stephens cut their price target on shares of AZEK from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group lowered their target price on AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.93.

Insider Activity

In other news, CEO Jesse G. Singh sold 20,000 shares of AZEK stock in a transaction on Monday, May 12th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the transaction, the chief executive officer now directly owns 852,765 shares in the company, valued at approximately $43,832,121. This trade represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company's stock.

AZEK Trading Down 1.5%

AZEK stock traded down $0.82 during trading hours on Friday, reaching $53.33. The company had a trading volume of 1,781,173 shares, compared to its average volume of 2,403,619. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 53.87, a P/E/G ratio of 1.91 and a beta of 1.82. The AZEK Company Inc. has a 12-month low of $35.48 and a 12-month high of $54.91. The company has a 50-day moving average price of $49.77 and a 200 day moving average price of $48.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.56 and a quick ratio of 1.19.

AZEK (NYSE:AZEK - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. AZEK had a return on equity of 13.47% and a net margin of 9.85%. The company had revenue of $452.23 million for the quarter, compared to analyst estimates of $444.75 million. During the same period in the previous year, the company posted $0.39 earnings per share. The firm's revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that The AZEK Company Inc. will post 1.34 earnings per share for the current year.

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.