Gencor Industries (NASDAQ:GENC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Gencor Industries (NASDAQ:GENC) from a buy rating to a hold rating in a report published on Tuesday.

Gencor Industries Stock Down 8.3 %

GENC opened at $18.06 on Tuesday. The stock has a market capitalization of $264.76 million, a price-to-earnings ratio of 16.42 and a beta of 0.43. Gencor Industries has a twelve month low of $15.23 and a twelve month high of $24.88. The company has a 50-day simple moving average of $21.13 and a 200 day simple moving average of $20.37.

Institutional Trading of Gencor Industries

Several large investors have recently made changes to their positions in GENC. Rhumbline Advisers raised its position in Gencor Industries by 4.1% during the second quarter. Rhumbline Advisers now owns 11,767 shares of the company’s stock valued at $228,000 after purchasing an additional 465 shares in the last quarter. Pullen Investment Management LLC raised its holdings in shares of Gencor Industries by 1.7% during the 2nd quarter. Pullen Investment Management LLC now owns 58,129 shares of the company’s stock worth $1,124,000 after buying an additional 997 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Gencor Industries by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,012 shares of the company’s stock worth $1,412,000 after buying an additional 3,125 shares in the last quarter. Geode Capital Management LLC lifted its position 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 worth $4,806,000 after buying an additional 4,064 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Gencor Industries by 1.2% in the second quarter. Renaissance Technologies LLC now owns 386,174 shares of the company’s stock valued at $7,469,000 after buying an additional 4,510 shares in the last quarter.

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.