Nisa Investment Advisors LLC Increases Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

Nisa Investment Advisors LLC boosted its position in Astec Industries, Inc. (NASDAQ:ASTE) by 319.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,045 shares of the industrial products company’s stock after buying an additional 12,217 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.07% of Astec Industries worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Tompkins Financial Corp purchased a new position in shares of Astec Industries in the fourth quarter valued at about $34,000. GAMMA Investing LLC lifted its position in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Astec Industries during the 3rd quarter valued at $45,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Astec Industries in the 3rd quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astec Industries in the 3rd quarter worth about $64,000. 93.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASTE. Robert W. Baird upped their price objective on shares of Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

Astec Industries Stock Performance

Shares of ASTE stock opened at $34.95 on Wednesday. The company has a market capitalization of $796.86 million, a price-to-earnings ratio of -436.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $44.74. The company’s 50-day moving average is $35.29 and its 200 day moving average is $33.67.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $312.90 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.