JPMorgan Chase & Co. Boosts Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

JPMorgan Chase & Co. grew its holdings in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 38.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,586 shares of the industrial products company's stock after purchasing an additional 15,736 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Astec Industries worth $1,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Astec Industries by 69.8% during the 3rd 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. purchased a new stake in Astec Industries in the third quarter valued at $45,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Astec Industries in the 3rd quarter valued at $49,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astec Industries during the 3rd quarter worth $64,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Astec Industries during the 3rd quarter worth about $69,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on ASTE. StockNews.com raised shares of Astec Industries from a "hold" rating to a "buy" rating in a research report on Tuesday. 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.

Astec Industries Trading Up 0.7 %

Shares of ASTE stock traded up $0.23 on Thursday, hitting $35.15. The stock had a trading volume of 122,249 shares, compared to its average volume of 231,221. The company's 50 day moving average price is $35.39 and its 200-day moving average price is $33.49. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The firm has a market capitalization of $801.42 million, a P/E ratio of -439.32 and a beta of 1.31.

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

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.