Summit Global Investments Makes New $897,000 Investment in Astec Industries, Inc. $ASTE

Summit Global Investments bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,635 shares of the industrial products company’s stock, valued at approximately $897,000. Summit Global Investments owned about 0.08% of Astec Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in ASTE. FNY Investment Advisers LLC acquired a new position in Astec Industries during the 2nd quarter worth about $27,000. Tower Research Capital LLC TRC raised its stake in shares of Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Astec Industries in the third quarter worth about $136,000. Teacher Retirement System of Texas acquired a new position in shares of Astec Industries during the second quarter worth approximately $204,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Astec Industries during the third quarter valued at approximately $204,000. 93.16% of the stock is owned by institutional investors.

Astec Industries Trading Up 0.6%

ASTE opened at $48.72 on Friday. The firm has a 50 day simple moving average of $46.34 and a 200 day simple moving average of $45.39. Astec Industries, Inc. has a fifty-two week low of $29.65 and a fifty-two week high of $50.92. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 23.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. 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 (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%.

Analyst Ratings Changes

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

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.