First Trust Advisors LP boosted its position in shares of Astec Industries Inc. (NASDAQ:ASTE) by 16.6% during the second quarter, Holdings Channel reports. The fund owned 23,280 shares of the company’s stock after buying an additional 3,319 shares during the period. First Trust Advisors LP owned approximately 0.10% of Astec Industries worth $1,307,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASTE. Royal Bank of Canada boosted its position in Astec Industries by 1.4% in the first quarter. Royal Bank of Canada now owns 5,125 shares of the company’s stock worth $239,000 after buying an additional 73 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Astec Industries during the second quarter worth $241,000. Nisa Investment Advisors L.L.C. purchased a new position in Astec Industries during the first quarter worth $271,000. National Investment Services Inc. WI purchased a new position in Astec Industries during the second quarter worth $292,000. Finally, Aperio Group LLC boosted its position in 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 during the last quarter. 79.16% of the stock is owned by institutional investors.
Astec Industries Inc. (NASDAQ:ASTE) traded up 1.51% during trading on Friday, reaching $59.87. 111,201 shares of the company were exchanged. The stock has a 50 day moving average price of $58.27 and a 200 day moving average price of $53.68. The firm has a market capitalization of $1.38 billion, a PE ratio of 33.08 and a beta of 1.34. Astec Industries Inc. has a 12 month low of $30.76 and a 12 month high of $62.75.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company earned $294.40 million during the quarter, compared to the consensus estimate of $283.44 million. Astec Industries had a net margin of 4.18% and a return on equity of 6.72%. Astec Industries’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, analysts expect that Astec Industries Inc. will post $2.40 EPS for the current fiscal year.
Several brokerages have recently issued reports on ASTE. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Thursday, July 28th. Maxim Group lifted their target price on shares of Astec Industries from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Stifel Nicolaus lifted their target price on shares of Astec Industries from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th. Finally, Seaport Global Securities lowered shares of Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $54.25.
In other Astec Industries news, CFO David C. Silvious sold 1,076 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $59.98, for a total transaction of $64,538.48. Following the completion of the transaction, the chief financial officer now owns 1,070 shares in the company, valued at approximately $64,178.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $64,831.30. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
About Astec Industries
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.