Nationwide Fund Advisors boosted its position in shares of Astec Industries Inc. (NASDAQ:ASTE) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,942 shares of the company’s stock after buying an additional 7,818 shares during the period. Nationwide Fund Advisors owned 0.22% of Astec Industries worth $2,804,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royal Bank of Canada raised its position in shares of 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 shares of Astec Industries during the second quarter worth $241,000. Nisa Investment Advisors L.L.C. purchased a new position in shares of Astec Industries during the first quarter worth $271,000. National Investment Services Inc. WI purchased a new position in shares of Astec Industries during the second quarter worth $292,000. Finally, Aperio Group LLC raised its position 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 during the last quarter. Hedge funds and other institutional investors own 79.16% of the company’s stock.
Shares of Astec Industries Inc. (NASDAQ:ASTE) traded down 1.64% during mid-day trading on Friday, reaching $58.29. 61,435 shares of the company’s stock traded hands. The stock has a market capitalization of $1.34 billion, a PE ratio of 32.20 and a beta of 1.26. The company’s 50-day moving average price is $58.35 and its 200-day moving average price is $54.15. Astec Industries Inc. has a 12-month low of $30.76 and a 12-month high of $62.75.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business 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%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Analysts anticipate that Astec Industries Inc. will post $2.40 earnings per share for the current year.
ASTE has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Thursday, July 28th. Maxim Group raised their price objective on 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 raised their price objective on 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. restated a “hold” rating on shares of Astec Industries in a research report on Tuesday, July 12th. Finally, Seaport Global Securities lowered 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Astec Industries currently has an average rating of “Hold” and an average price target of $54.25.
In related news, Vice Chairman W Norman Smith sold 10,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $60.22, for a total transaction of $602,200.00. Following the completion of the transaction, the insider now owns 9,390 shares in the company, valued at approximately $565,465.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David C. Silvious sold 1,076 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $59.98, for a total transaction of $64,538.48. Following the transaction, the chief financial officer now owns 1,070 shares of the company’s stock, valued at approximately $64,178.60. The disclosure for this sale can be found here. 1.90% of the stock is currently 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.
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