Public Sector Pension Investment Board Acquires 28,042 Shares of Astec Industries, Inc. $ASTE

Public Sector Pension Investment Board grew its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,972 shares of the industrial products company’s stock after buying an additional 28,042 shares during the quarter. Public Sector Pension Investment Board’s holdings in Astec Industries were worth $5,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ASTE. American Century Companies Inc. grew its holdings in 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 acquiring an additional 178,545 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Astec Industries by 1,800.5% during the third quarter. New York State Common Retirement Fund now owns 142,388 shares of the industrial products company’s stock worth $6,853,000 after purchasing an additional 134,896 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of Astec Industries by 77,508.8% during the second quarter. Hillsdale Investment Management Inc. now owns 131,935 shares of the industrial products company’s stock valued at $5,500,000 after purchasing an additional 131,765 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Astec Industries by 29.9% in the second quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock valued at $20,629,000 after purchasing an additional 113,765 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Astec Industries by 188.2% in the first quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock valued at $5,111,000 after purchasing an additional 96,883 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analyst Ratings Changes

ASTE has been the topic of several research reports. Wall Street Zen downgraded Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.00.

Astec Industries Stock Performance

ASTE stock opened at $57.44 on Friday. The business’s fifty day moving average is $49.66 and its 200-day moving average is $47.08. The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.31 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 2.49 and a beta of 1.45. Astec Industries, Inc. has a twelve month low of $29.65 and a twelve month high of $59.99.

Astec Industries Company Profile

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.