Astec Industries (NASDAQ:ASTE) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Robert W. Baird upped their target price on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $32.73 on Thursday. The company has a market cap of $746.24 million, a PE ratio of -409.07 and a beta of 1.31. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The firm has a 50-day simple moving average of $33.74 and a 200 day simple moving average of $33.62. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Astec Industries

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in Astec Industries by 96.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company’s stock valued at $5,465,000 after purchasing an additional 84,202 shares during the last quarter. Easterly Investment Partners LLC raised its holdings in shares of Astec Industries by 89.0% during the third quarter. Easterly Investment Partners LLC now owns 40,631 shares of the industrial products company’s stock valued at $1,298,000 after buying an additional 19,134 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Astec Industries during the third quarter valued at approximately $233,000. Advisors Asset Management Inc. boosted its position in shares of Astec Industries by 7.9% during the third quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company’s stock worth $2,478,000 after buying an additional 5,668 shares during the period. Finally, Intech Investment Management LLC bought a new position in Astec Industries in the 3rd quarter worth approximately $319,000. Institutional investors own 93.16% of the company’s stock.

About Astec Industries

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.