Broadview Advisors Lowers stake in Astec Industries (ASTE)

Astec Industries (ASTE) : Broadview Advisors reduced its stake in Astec Industries by 3.14% during the most recent quarter end. The investment management company now holds a total of 440,212 shares of Astec Industries which is valued at $25,413,439 after selling 14,288 shares in Astec Industries , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Astec Industries makes up approximately 3.58% of Broadview Advisors’s portfolio.

Other Hedge Funds, Including , Teachers Advisors Inc boosted its stake in ASTE in the latest quarter, The investment management firm added 345 additional shares and now holds a total of 30,849 shares of Astec Industries which is valued at $1,780,913.Eam Investors boosted its stake in ASTE in the latest quarter, The investment management firm added 1,053 additional shares and now holds a total of 76,193 shares of Astec Industries which is valued at $4,580,723. Astec Industries makes up approx 0.64% of Eam Investors’s portfolio. Quantbot Technologies Lp sold out all of its stake in ASTE during the most recent quarter. The investment firm sold 1,571 shares of ASTE which is valued $93,742.

Astec Industries opened for trading at $59.71 and hit $62.49 on the upside on Tuesday, eventually ending the session at $60.2, with a gain of 1.04% or 0.62 points. The heightened volatility saw the trading volume jump to 1,59,548 shares. Company has a market cap of $1,387 M.

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 Company’s business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.

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