Gencor Industries (NASDAQ:GENC) Stock Price Down 2.4% - Here's What Happened

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report) shares traded down 2.4% on Monday . The stock traded as low as $12.25 and last traded at $12.41. 44,068 shares were traded during mid-day trading, an increase of 47% from the average session volume of 30,034 shares. The stock had previously closed at $12.72.

Analysts Set New Price Targets

Separately, StockNews.com cut Gencor Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th.

Gencor Industries Price Performance

The company's fifty day moving average price is $14.50 and its 200-day moving average price is $18.33. The stock has a market cap of $190.55 million, a price-to-earnings ratio of 11.82 and a beta of 0.45.

Institutional Investors Weigh In On Gencor Industries

A number of institutional investors and hedge funds have recently modified their holdings of the company. Systematic Financial Management LP lifted its position in Gencor Industries by 2.5% during the fourth quarter. Systematic Financial Management LP now owns 1,178,065 shares of the company's stock valued at $20,793,000 after purchasing an additional 28,732 shares during the period. Royce & Associates LP lifted its holdings in Gencor Industries by 1.0% in the fourth quarter. Royce & Associates LP now owns 1,166,000 shares of the company's stock valued at $20,580,000 after acquiring an additional 12,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Gencor Industries by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 230,324 shares of the company's stock valued at $4,806,000 after purchasing an additional 4,064 shares in the last quarter. State Street Corp lifted its stake in shares of Gencor Industries by 3.9% in the 3rd quarter. State Street Corp now owns 160,444 shares of the company's stock valued at $3,347,000 after purchasing an additional 6,049 shares during the period. Finally, De Lisle Partners LLP boosted its holdings in Gencor Industries by 28.5% during the third quarter. De Lisle Partners LLP now owns 87,294 shares of the company's stock worth $1,818,000 after buying an additional 19,339 shares in the last quarter.

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About Gencor Industries

Gencor Industries, Inc, together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. It offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants.