Y Intercept Hong Kong Ltd Sells 20,667 Shares of Astec Industries, Inc. $ASTE

Y Intercept Hong Kong Ltd reduced its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 64.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,318 shares of the industrial products company’s stock after selling 20,667 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Astec Industries were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ASTE. Amalgamated Bank raised its holdings in Astec Industries by 3.4% during the 3rd quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock worth $324,000 after buying an additional 224 shares during the period. Nisa Investment Advisors LLC lifted its position in Astec Industries by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock valued at $662,000 after acquiring an additional 274 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Astec Industries in the 2nd quarter worth $27,000. Legal & General Group Plc increased its holdings in Astec Industries by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock worth $2,495,000 after purchasing an additional 694 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Astec Industries by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock valued at $567,000 after purchasing an additional 977 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Zacks Research raised Astec Industries to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.00.

Astec Industries Trading Up 4.1%

NASDAQ ASTE opened at $52.96 on Wednesday. Astec Industries, Inc. has a 12 month low of $29.65 and a 12 month high of $53.00. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $46.68 and a 200-day moving average of $45.68. The company has a market cap of $1.21 billion, a PE ratio of 25.46, a PEG ratio of 2.20 and a beta of 1.45.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $350.10 million for the quarter, compared to the consensus estimate of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%.

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.