Capital Fund Management S.A. purchased a new position in Astec Industries Inc. (NASDAQ:ASTE) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,300 shares of the company’s stock, valued at approximately $241,000.
Other hedge funds also recently modified their holdings of the company. Aperio Group LLC increased its stake in shares of Astec Industries by 6.5% in the first quarter. Aperio Group LLC now owns 6,450 shares of the company’s stock worth $301,000 after buying an additional 396 shares in the last quarter. Nisa Investment Advisors L.L.C. bought a new stake in shares of Astec Industries during the first quarter worth about $271,000. Prudential Financial Inc. increased its stake in shares of Astec Industries by 3.6% in the first quarter. Prudential Financial Inc. now owns 45,477 shares of the company’s stock worth $2,122,000 after buying an additional 1,600 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Astec Industries by 4.3% in the first quarter. BlackRock Group LTD now owns 28,720 shares of the company’s stock worth $1,341,000 after buying an additional 1,191 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Astec Industries by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,183,825 shares of the company’s stock worth $55,249,000 after buying an additional 16,127 shares in the last quarter. Institutional investors own 79.16% of the company’s stock.
Shares of Astec Industries Inc. (NASDAQ:ASTE) traded up 1.34% during trading on Friday, hitting $58.89. The stock had a trading volume of 55,802 shares. Astec Industries Inc. has a 12 month low of $30.76 and a 12 month high of $62.75. The company’s 50 day moving average price is $58.16 and its 200 day moving average price is $54.57. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 32.54 and a beta of 1.26.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, July 26th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The company earned $294.40 million during the quarter, compared to analysts’ expectations of $283.44 million. Astec Industries had a return on equity of 6.72% and a net margin of 4.18%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Equities research analysts expect that Astec Industries Inc. will post $2.40 earnings per share for the current fiscal year.
A number of analysts recently issued reports on ASTE shares. Seaport Global Securities downgraded Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Wednesday, July 6th. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their target price on Astec Industries from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Astec Industries presently has an average rating of “Hold” and a consensus target price of $54.25.
In other Astec Industries news, VP Stephen C. Anderson sold 1,070 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $60.59, for a total value of $64,831.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven L. Claude sold 1,987 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $60.23, for a total value of $119,677.01. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.
Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries Inc. (NASDAQ:ASTE).
Receive News & Ratings for Astec Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.