Y Intercept Hong Kong Ltd Has $545,000 Stake in Astec Industries, Inc. $ASTE

Y Intercept Hong Kong Ltd cut its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 64.6% during the third quarter, Holdings Channel reports. The fund owned 11,318 shares of the industrial products company’s stock after selling 20,667 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Astec Industries were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Astec Industries by 2.0% during the second quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock worth $24,109,000 after purchasing an additional 11,365 shares during the period. American Century Companies Inc. boosted its holdings in shares of Astec Industries by 49.4% during the 2nd quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock worth $22,510,000 after buying an additional 178,545 shares during the period. Invesco Ltd. grew its stake in Astec Industries by 29.9% in the 2nd quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock valued at $20,629,000 after buying an additional 113,765 shares during the last quarter. Harvey Partners LLC raised its holdings in Astec Industries by 0.8% in the 2nd quarter. Harvey Partners LLC now owns 337,845 shares of the industrial products company’s stock valued at $14,085,000 after acquiring an additional 2,845 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its position in Astec Industries by 8.6% during the second quarter. Segall Bryant & Hamill LLC now owns 216,066 shares of the industrial products company’s stock worth $9,008,000 after acquiring an additional 17,056 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $52.96 on Wednesday. The business has a fifty day moving average price of $46.68 and a two-hundred day moving average price of $45.68. The stock has a market capitalization of $1.21 billion, a PE ratio of 25.46, a P/E/G ratio of 2.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.58 and a quick ratio of 1.01. Astec Industries, Inc. has a fifty-two week low of $29.65 and a fifty-two week high of $53.00.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. Astec Industries had a return on equity of 11.93% and a net margin of 3.50%.The company had revenue of $350.10 million for the quarter, compared to analyst estimates of $336.00 million.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Zacks Research upgraded Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $41.00.

About Astec Industries

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.