Gabelli Funds LLC Sells 15,200 Shares of Astec Industries, Inc. $ASTE

Gabelli Funds LLC trimmed its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 552,900 shares of the industrial products company’s stock after selling 15,200 shares during the period. Gabelli Funds LLC’s holdings in Astec Industries were worth $29,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Astec Industries by 15.6% in the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock valued at $2,262,000 after acquiring an additional 8,847 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Astec Industries during the 1st quarter worth about $1,526,000. Millennium Management LLC increased its stake in shares of Astec Industries by 188.2% during the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock worth $5,111,000 after purchasing an additional 96,883 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Astec Industries by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock worth $2,259,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Astec Industries by 2.9% in the 1st quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock valued at $1,604,000 after purchasing an additional 1,305 shares during the period. 93.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Freedom Capital upgraded Astec Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Astec Industries Trading Up 0.3%

ASTE stock opened at $56.40 on Friday. Astec Industries, Inc. has a one year low of $37.88 and a one year high of $65.69. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 50.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.34. The company has a fifty day moving average price of $54.07 and a two-hundred day moving average price of $54.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.00.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.34). The company had revenue of $396.30 million during the quarter, compared to the consensus estimate of $393.24 million. Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. Equities analysts anticipate that Astec Industries, Inc. will post 3.63 EPS for the current year.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.