Hillsdale Investment Management Inc. Has $7.25 Million Stock Holdings in Astec Industries, Inc. $ASTE

Hillsdale Investment Management Inc. raised its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,635 shares of the industrial products company’s stock after buying an additional 18,700 shares during the period. Hillsdale Investment Management Inc. owned 0.66% of Astec Industries worth $7,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASTE. Vanguard Group Inc. lifted its stake in shares of Astec Industries by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,513,520 shares of the industrial products company’s stock valued at $120,976,000 after acquiring an additional 34,535 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 last quarter. American Century Companies Inc. increased its stake in shares of Astec Industries by 49.4% in the second quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock valued at $22,510,000 after buying an additional 178,545 shares during the period. Invesco Ltd. raised its holdings 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. Finally, Harvey Partners LLC boosted its position in Astec Industries by 0.8% during the 2nd quarter. Harvey Partners LLC now owns 337,845 shares of the industrial products company’s stock worth $14,085,000 after buying an additional 2,845 shares during the period. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

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

Astec Industries Stock Performance

ASTE stock opened at $58.72 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.49 and a beta of 1.45. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $49.91 and a 200-day moving average price of $47.21. Astec Industries, Inc. has a 1-year low of $29.65 and a 1-year high of $59.99.

Astec Industries 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.