BlackRock Inc. lifted its position in Astec Industries, Inc. (NASDAQ:ASTE) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,376,181 shares of the industrial products company’s stock after purchasing an additional 58,250 shares during the quarter. BlackRock Inc. owned about 10.32% of Astec Industries worth $131,901,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ASTE. Alliancebernstein L.P. raised its stake in shares of Astec Industries by 25.9% in the second quarter. Alliancebernstein L.P. now owns 590,307 shares of the industrial products company’s stock worth $32,768,000 after purchasing an additional 121,309 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Astec Industries by 6.5% in the first quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock worth $111,128,000 after purchasing an additional 109,609 shares during the last quarter. Royce & Associates LP raised its stake in shares of Astec Industries by 51.4% in the second quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock worth $13,665,000 after purchasing an additional 83,601 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Astec Industries by 266.8% in the second quarter. First Trust Advisors LP now owns 106,889 shares of the industrial products company’s stock worth $5,933,000 after purchasing an additional 77,748 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Astec Industries by 86.3% in the second quarter. Bank of Montreal Can now owns 144,624 shares of the industrial products company’s stock worth $8,028,000 after purchasing an additional 67,000 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Shares of Astec Industries, Inc. (NASDAQ ASTE) opened at 51.81 on Monday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 24.66 and a beta of 1.10. Astec Industries, Inc. has a 12-month low of $45.70 and a 12-month high of $73.37. The company’s 50-day moving average price is $51.71 and its 200 day moving average price is $54.87.

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

TRADEMARK VIOLATION NOTICE: “Astec Industries, Inc. (ASTE) Shares Bought by BlackRock Inc.” was published by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/10/16/astec-industries-inc-aste-shares-bought-by-blackrock-inc.html.

Several research analysts have recently issued reports on the company. BidaskClub cut Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Robert W. Baird upgraded Astec Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $56.00 to $65.00 in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, Dougherty & Co cut 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Astec Industries presently has a consensus rating of “Hold” and a consensus target price of $75.00.

About Astec Industries

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)

Receive News & Ratings for Astec Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.