Martin & Co. Inc. TN Lowers Stake in Astec Industries, Inc. (NASDAQ:ASTE)

Martin & Co. Inc. TN lowered its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,527 shares of the industrial products company’s stock after selling 2,048 shares during the period. Martin & Co. Inc. TN’s holdings in Astec Industries were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tompkins Financial Corp purchased a new stake in Astec Industries during the fourth quarter worth $34,000. R Squared Ltd purchased a new stake in shares of Astec Industries during the 4th quarter valued at $42,000. Point72 Asset Management L.P. purchased 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 during the 3rd quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astec Industries during the 3rd quarter valued at $64,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ASTE shares. Robert W. Baird increased their price objective on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th.

Astec Industries Stock Performance

Shares of ASTE stock opened at $33.01 on Monday. The firm has a market capitalization of $752.63 million, a price-to-earnings ratio of -412.57 and a beta of 1.31. 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 business has a fifty day moving average of $34.12 and a 200 day moving average of $33.63. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74.

Astec Industries Company 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.