Astec Industries (NASDAQ:ASTE) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Robert W. Baird raised their target price on shares of Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Astec Industries Stock Down 5.3 %

ASTE stock opened at $30.98 on Thursday. Astec Industries has a one year low of $28.46 and a one year high of $44.74. The stock has a market capitalization of $706.34 million, a PE ratio of -387.20 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The company has a fifty day moving average of $33.62 and a 200-day moving average of $33.64.

Hedge Funds Weigh In On Astec Industries

Large investors have recently made changes to their positions in the stock. Centiva Capital LP purchased a new position in shares of Astec Industries in the 3rd quarter valued at about $353,000. Geode Capital Management LLC increased its holdings in shares of Astec Industries by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 569,089 shares of the industrial products company’s stock valued at $18,180,000 after purchasing an additional 22,743 shares in the last quarter. Barclays PLC increased its holdings in shares of Astec Industries by 118.9% in the 3rd quarter. Barclays PLC now owns 40,529 shares of the industrial products company’s stock valued at $1,294,000 after purchasing an additional 22,017 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Astec Industries by 38.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,586 shares of the industrial products company’s stock valued at $1,807,000 after purchasing an additional 15,736 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Astec Industries by 319.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,045 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 12,217 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.