BNP Paribas Arbitrage SA cut its stake in Astec Industries Inc. (NASDAQ:ASTE) by 48.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215 shares of the company’s stock after selling 2,963 shares during the period. BNP Paribas Arbitrage SA’s holdings in Astec Industries were worth $192,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. raised 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 valued at $2,122,000 after buying an additional 1,600 shares during the last quarter. BlackRock Fund Advisors raised 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 valued at $55,249,000 after buying an additional 16,127 shares during the last quarter. Longbow Capital Partners L.P. purchased a new stake in shares of Astec Industries during the second quarter valued at approximately $489,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Astec Industries by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 488,414 shares of the company’s stock valued at $22,794,000 after buying an additional 3,116 shares during the last quarter. Finally, Aperio Group LLC raised 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 valued at $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) opened at 59.26 on Friday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 32.74 and a beta of 1.26. Astec Industries Inc. has a 12 month low of $30.76 and a 12 month high of $62.75. The stock has a 50 day moving average price of $58.37 and a 200 day moving average price of $54.07.
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, topping the Zacks’ consensus estimate of $0.75 by $0.04. The company earned $294.40 million during the quarter, compared to analyst estimates 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 quarter last year, the business posted $0.51 EPS. Equities analysts predict that Astec Industries Inc. will post $2.40 EPS for the current fiscal year.
ASTE has been the topic of several analyst reports. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th. Maxim Group lifted their target price on Astec Industries from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Finally, Stifel Nicolaus lifted their target price on Astec Industries from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $54.25.
In other Astec Industries news, insider Steven L. Claude sold 1,987 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $60.23, for a total transaction of $119,677.01. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO David C. Silvious sold 1,076 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $59.98, for a total value of $64,538.48. Following the sale, the chief financial officer now directly owns 1,070 shares in the company, valued at $64,178.60. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
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.
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