Baird Financial Group Inc. bought a new position in Astec Industries, Inc. (NASDAQ:ASTE) during the first quarter, according to its most recent filing with the SEC. The firm bought 11,207 shares of the industrial products company’s stock, valued at approximately $618,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pier Capital LLC bought a new position in shares of Astec Industries in the 1st quarter worth $5,131,000. Principal Financial Group Inc. lifted its holdings in shares of Astec Industries by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 146,780 shares of the industrial products company’s stock worth $8,099,000 after purchasing an additional 3,501 shares in the last quarter. Cortina Asset Management LLC lifted its holdings in shares of Astec Industries by 32.6% in the 1st quarter. Cortina Asset Management LLC now owns 134,586 shares of the industrial products company’s stock worth $7,426,000 after purchasing an additional 33,090 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Astec Industries in the 1st quarter worth $304,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Astec Industries by 15.1% in the 1st quarter. California Public Employees Retirement System now owns 35,579 shares of the industrial products company’s stock worth $1,963,000 after purchasing an additional 4,681 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.
In related news, CEO Benjamin G. Brock sold 22,439 shares of the stock in a transaction on Friday, May 4th. The stock was sold at an average price of $54.71, for a total value of $1,227,637.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
A number of equities analysts recently issued reports on ASTE shares. ValuEngine cut Astec Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Robert W. Baird reiterated a “buy” rating and issued a $64.00 target price on shares of Astec Industries in a report on Friday, April 13th. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus cut their target price on Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Astec Industries currently has a consensus rating of “Buy” and an average price target of $67.25.
Astec Industries opened at $59.80 on Friday, according to Marketbeat. The firm has a market capitalization of $1.37 billion, a P/E ratio of 37.85, a P/E/G ratio of 1.75 and a beta of 1.14. Astec Industries, Inc. has a 12 month low of $45.70 and a 12 month high of $64.80.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $325.50 million during the quarter, compared to analyst estimates of $336.32 million. Astec Industries had a return on equity of 6.09% and a net margin of 3.60%. Astec Industries’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 EPS. equities analysts anticipate that Astec Industries, Inc. will post 3.39 earnings per share for the current fiscal year.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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