Astec Industries, Inc. (NASDAQ:ASTE) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in Astec Industries, Inc. (NASDAQ:ASTE) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,987 shares of the industrial products company’s stock after selling 1,601 shares during the period. New York State Teachers Retirement System owned approximately 0.17% of Astec Industries worth $1,276,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ASTE. Assenagon Asset Management S.A. raised its holdings in shares of Astec Industries by 96.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company’s stock valued at $5,465,000 after buying an additional 84,202 shares during the period. Easterly Investment Partners LLC raised its holdings in shares of Astec Industries by 89.0% during the 3rd quarter. Easterly Investment Partners LLC now owns 40,631 shares of the industrial products company’s stock valued at $1,298,000 after buying an additional 19,134 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Astec Industries during the 3rd quarter valued at about $233,000. Advisors Asset Management Inc. raised its holdings in shares of Astec Industries by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company’s stock valued at $2,478,000 after buying an additional 5,668 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Astec Industries during the 3rd quarter worth approximately $319,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $30.98 on Monday. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $706.34 million, a price-to-earnings ratio of -387.20 and a beta of 1.31. The business has a 50 day simple moving average of $33.62 and a 200-day simple moving average of $33.66.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday.

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.