A number of other hedge funds also recently bought and sold shares of ASTE. Teacher Retirement System of Texas increased its stake in Astec Industries by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,727 shares of the company’s stock valued at $153,000 after buying an additional 336 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in Astec Industries during the third quarter valued at approximately $204,000. Acrospire Investment Management LLC increased its stake in Astec Industries by 696.6% in the third quarter. Acrospire Investment Management LLC now owns 3,545 shares of the company’s stock valued at $212,000 after buying an additional 3,100 shares in the last quarter. Mason Street Advisors LLC bought a new stake in Astec Industries during the second quarter valued at approximately $207,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in Astec Industries by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,190 shares of the company’s stock valued at $251,000 after buying an additional 70 shares in the last quarter. 78.43% of the stock is owned by hedge funds and other institutional investors.
G2 Investment Partners Management LLC acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the third quarter, Holdings Channel reports. The institutional investor acquired 15,300 shares of the company’s stock, valued at approximately $916,000. G2 Investment Partners Management LLC owned approximately 0.07% of Astec Industries as of its most recent SEC filing.
Shares of Astec Industries, Inc. (NASDAQ:ASTE) opened at 70.76 on Thursday. Astec Industries, Inc. has a 12-month low of $35.90 and a 12-month high of $72.12. The company has a 50 day moving average price of $68.67 and a 200-day moving average price of $62.33. The firm has a market cap of $1.63 billion, a PE ratio of 35.20 and a beta of 1.37.
Several research firms have commented on ASTE. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Dougherty & Co started coverage on Astec Industries in a research report on Tuesday, December 20th. They set a “buy” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Astec Industries currently has an average rating of “Hold” and an average target price of $66.00.
In related news, insider Michael A. Bremmer sold 1,699 shares of Astec Industries stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $66.93, for a total value of $113,714.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.
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.
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