Gamco Investors INC. ET AL cut its stake in Astec Industries, Inc. (NASDAQ:ASTE – Free Report) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,102,286 shares of the industrial products company’s stock after selling 66,400 shares during the quarter. Gamco Investors INC. ET AL owned about 4.79% of Astec Industries worth $59,347,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Millennium Management LLC increased its holdings in shares of Astec Industries by 142.3% during the 4th quarter. Millennium Management LLC now owns 347,231 shares of the industrial products company’s stock worth $15,042,000 after buying an additional 203,911 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Astec Industries by 184.2% in the fourth quarter. JPMorgan Chase & Co. now owns 191,498 shares of the industrial products company’s stock valued at $8,296,000 after acquiring an additional 124,111 shares during the last quarter. Invesco Ltd. grew its position in Astec Industries by 29.9% in the second quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock worth $20,629,000 after acquiring an additional 113,765 shares during the period. Easterly Investment Partners LLC grew its position in Astec Industries by 115.0% in the fourth quarter. Easterly Investment Partners LLC now owns 192,030 shares of the industrial products company’s stock worth $8,319,000 after acquiring an additional 102,709 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in Astec Industries by 256.6% in the third quarter. Qube Research & Technologies Ltd now owns 137,027 shares of the industrial products company’s stock worth $6,595,000 after acquiring an additional 98,601 shares during the period. Hedge funds and other institutional investors own 93.16% of the company’s stock.
Astec Industries Stock Up 0.3%
Shares of NASDAQ:ASTE opened at $56.40 on Friday. Astec Industries, Inc. has a fifty-two week low of $37.88 and a fifty-two week high of $65.69. The firm’s 50 day moving average price is $54.07 and its 200 day moving average price is $54.59. The company has a quick ratio of 1.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 50.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.34.
Wall Street Analyst Weigh In
A number of research firms have commented on ASTE. Freedom Capital upgraded Astec Industries to a “strong-buy” rating in a research report on Wednesday, April 1st. Weiss Ratings downgraded Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Zacks Research upgraded shares of Astec Industries from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.
Read Our Latest Stock Analysis on Astec Industries
Astec Industries Profile
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.
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