Astec Industries (ASTE) : Longbow Capital Partners added new position in Astec Industries during the most recent quarter end. The investment management firm now holds 8,708 shares of Astec Industries which is valued at $520,738 , the company said in a statement filed on Aug 9, 2016 with the SEC.Astec Industries makes up approximately 11.65% of Longbow Capital Partners’s portfolio.
Other Hedge Funds, Including , Thompson Davis added ASTE to its portfolio by purchasing 1,125 company shares during the most recent quarter which is valued at $67,275. Astec Industries makes up approx 0.10% of Thompson Davis’s portfolio.Argent Capital Management boosted its stake in ASTE in the latest quarter, The investment management firm added 13,050 additional shares and now holds a total of 66,975 shares of Astec Industries which is valued at $3,951,525. Astec Industries makes up approx 0.17% of Argent Capital Management’s portfolio. Deprince Race Zollo Inc sold out all of its stake in ASTE during the most recent quarter. The investment firm sold 478,465 shares of ASTE which is valued $29,703,107.
Astec Industries closed down -0.47 points or -0.81% at $57.89 with 1,16,911 shares getting traded on Wednesday. Post opening the session at $58.35, the shares hit an intraday low of $57.15 and an intraday high of $58.55 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, Astec Industries reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $294.39 million for the quarter, compared to analysts expectations of $283.44 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.
Many Wall Street Analysts have commented on Astec Industries. Company shares were Reiterated by Maxim Group on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $60 .Company shares were Reiterated by Stifel on Jul 27, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $63 .Robert W. Baird Downgraded Astec Industries on Jul 19, 2016 to ” Neutral”, Price Target of the shares are set at $55.
Astec Industries Inc. designs engineers manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in road building from quarrying and crushing the aggregate to application of the road surface. The Company manufactures certain equipment and components unrelated to road construction including equipment for the mining quarrying construction and demolition industries and port and rail yard operators; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders and blower trucks. It also manufactures multiple use plants for cement treated base roller compacted concrete and ready-mix concrete. The Companys business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.