Todays Report: The Mason Street Advisors LLC Takes Position in Astec Industries Inc. (ASTE)

The Mason Street Advisors LLC Takes Position in Astec Industries Inc. (ASTE)

Mason Street Advisors LLC purchased a new position in Astec Industries Inc. (NASDAQ:ASTE) during the second quarter, Holdings Channel reports. The institutional investor purchased 3,694 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Astec Industries by 0.9% in the second quarter. Royal Bank of Canada now owns 5,172 shares of the company’s stock worth $291,000 after buying an additional 47 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Astec Industries by 2.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 102,887 shares of the company’s stock worth $5,778,000 after buying an additional 2,014 shares during the period. Legal & General Group Plc increased its position in shares of Astec Industries by 496.9% in the second quarter. Legal & General Group Plc now owns 18,660 shares of the company’s stock worth $1,044,000 after buying an additional 15,534 shares during the period. Arizona State Retirement System increased its position in shares of Astec Industries by 1.0% in the second quarter. Arizona State Retirement System now owns 9,766 shares of the company’s stock worth $548,000 after buying an additional 100 shares during the period. Finally, AQR Capital Management LLC purchased a new position in shares of Astec Industries during the second quarter worth about $223,000. Hedge funds and other institutional investors own 79.16% of the company’s stock.

Shares of Astec Industries Inc. (NASDAQ:ASTE) opened at 57.99 on Wednesday. The firm’s 50-day moving average is $58.30 and its 200-day moving average is $54.42. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 32.04 and a beta of 1.26. Astec Industries Inc. has a 52 week low of $30.76 and a 52 week high of $62.75.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The firm earned $294.40 million during the quarter, compared to analyst estimates of $283.44 million. Astec Industries had a return on equity of 6.72% and a net margin of 4.18%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts predict that Astec Industries Inc. will post $2.40 earnings per share for the current year.

ASTE has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Thursday, July 28th. Maxim Group lifted their price objective on shares of Astec Industries from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Stifel Nicolaus lifted their price objective on shares of Astec Industries from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a research note on Tuesday, July 12th. Finally, Seaport Global Securities lowered shares of Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Wednesday, July 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.25.

In related news, Vice Chairman W Norman Smith sold 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $60.22, for a total value of $602,200.00. Following the completion of the sale, the insider now owns 9,390 shares of the company’s stock, valued at $565,465.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven L. Claude sold 1,987 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $60.23, for a total value of $119,677.01. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.

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