JPMorgan Chase & Co. lifted its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 43.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,847 shares of the industrial products company’s stock after acquiring an additional 18,903 shares during the period. JPMorgan Chase & Co. owned 0.27% of Astec Industries worth $3,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Astec Industries by 2.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 140 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Astec Industries by 114.1% in the second quarter. State of Wisconsin Investment Board now owns 68,500 shares of the industrial products company’s stock worth $3,802,000 after acquiring an additional 36,500 shares during the period. First Trust Advisors LP boosted its stake in shares of Astec Industries by 21.1% in the first quarter. First Trust Advisors LP now owns 29,141 shares of the industrial products company’s stock worth $1,792,000 after acquiring an additional 5,077 shares during the period. Legal & General Group Plc boosted its stake in shares of Astec Industries by 8.4% in the second quarter. Legal & General Group Plc now owns 56,156 shares of the industrial products company’s stock worth $3,117,000 after acquiring an additional 4,354 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Astec Industries by 137.9% in the first quarter. Prudential Financial Inc. now owns 113,487 shares of the industrial products company’s stock worth $6,979,000 after acquiring an additional 65,792 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. BidaskClub lowered Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $65.00 in a research note on Tuesday, October 3rd. Finally, Dougherty & Co lowered Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective for the company. in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $75.00.

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Astec Industries, Inc. (NASDAQ:ASTE) opened at 52.31 on Tuesday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.90 and a beta of 1.10. The company’s 50-day moving average price is $50.95 and its 200-day moving average price is $55.11. Astec Industries, Inc. has a 52 week low of $45.70 and a 52 week high of $73.37.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.18). Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business had revenue of $301.90 million during the quarter, compared to analysts’ expectations of $314.31 million. During the same quarter in the prior year, the firm earned $0.79 EPS. Astec Industries’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts forecast that Astec Industries, Inc. will post $2.01 earnings per share for the current fiscal year.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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