Confluence Investment Management LLC Boosts Stake in Astec Industries, Inc. (ASTE)

Confluence Investment Management LLC boosted its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,860 shares of the industrial products company’s stock after acquiring an additional 3,485 shares during the quarter. Confluence Investment Management LLC owned 0.35% of Astec Industries worth $4,836,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB boosted its position in Astec Industries by 45.2% in the second quarter. Xact Kapitalforvaltning AB now owns 6,751 shares of the industrial products company’s stock valued at $404,000 after buying an additional 2,100 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Astec Industries in the first quarter valued at about $219,000. Suntrust Banks Inc. boosted its position in Astec Industries by 186.2% in the first quarter. Suntrust Banks Inc. now owns 12,032 shares of the industrial products company’s stock valued at $663,000 after buying an additional 7,828 shares in the last quarter. Principal Financial Group Inc. boosted its position in Astec Industries by 2.4% in the first quarter. Principal Financial Group Inc. now owns 146,780 shares of the industrial products company’s stock valued at $8,099,000 after buying an additional 3,501 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in Astec Industries by 2.2% in the first quarter. Segall Bryant & Hamill LLC now owns 121,259 shares of the industrial products company’s stock valued at $6,691,000 after buying an additional 2,575 shares in the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Stifel Nicolaus cut their price objective on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, April 25th. Finally, Robert W. Baird restated a “buy” rating and issued a $64.00 price objective on shares of Astec Industries in a report on Friday, April 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $67.25.

Shares of ASTE stock traded down $0.26 during trading hours on Friday, hitting $60.82. 71,900 shares of the company were exchanged, compared to its average volume of 109,510. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 38.49, a P/E/G ratio of 1.80 and a beta of 1.13. Astec Industries, Inc. has a 52 week low of $45.70 and a 52 week high of $64.80.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share 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 the consensus estimate of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. sell-side analysts predict that Astec Industries, Inc. will post 3.39 earnings per share for the current fiscal year.

In related news, CEO Benjamin G. Brock sold 22,439 shares of Astec Industries stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $54.71, for a total transaction of $1,227,637.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Astec Industries Profile

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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Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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