Vaughan Nelson Investment Management L.P. Has $16.21 Million Stake in The AZEK Company Inc. (NYSE:AZEK)

Vaughan Nelson Investment Management L.P. decreased its position in shares of The AZEK Company Inc. (NYSE:AZEK - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 331,645 shares of the company's stock after selling 372,540 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.23% of AZEK worth $16,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AZEK by 44.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,769 shares of the company's stock worth $673,000 after buying an additional 4,246 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of AZEK by 6.8% during the first quarter. Fifth Third Bancorp now owns 7,236 shares of the company's stock worth $354,000 after buying an additional 461 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of AZEK by 1,280.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,116,458 shares of the company's stock worth $54,584,000 after buying an additional 1,035,610 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of AZEK by 321.6% during the first quarter. SG Americas Securities LLC now owns 68,145 shares of the company's stock worth $3,332,000 after buying an additional 51,983 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of AZEK during the first quarter worth approximately $261,000. Institutional investors and hedge funds own 97.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of AZEK from $53.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Raymond James set a $51.50 price target on shares of AZEK in a report on Tuesday, March 25th. Wolfe Research reissued a "peer perform" rating on shares of AZEK in a report on Wednesday, March 26th. William Blair reissued a "market perform" rating on shares of AZEK in a report on Monday, March 24th. Finally, UBS Group lowered their price target on shares of AZEK from $55.00 to $51.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.93.

Insider Transactions at AZEK

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

AZEK Trading Down 1.5%

Shares of NYSE AZEK opened at $53.33 on Monday. The company's fifty day moving average is $49.77 and its 200-day moving average is $48.87. The stock 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 twelve month low of $35.48 and a twelve month high of $54.91. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.31.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.