Wells Fargo & Company MN Acquires 18,031 Shares of Astec Industries, Inc. (ASTE)

Wells Fargo & Company MN increased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 61.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,368 shares of the industrial products company’s stock after acquiring an additional 18,031 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of Astec Industries worth $2,653,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ASTE. Ameritas Investment Partners Inc. boosted its stake in Astec Industries by 11.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after acquiring an additional 198 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Astec Industries by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,938 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 289 shares during the last quarter. SG Americas Securities LLC boosted its stake in Astec Industries by 80.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,266 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 1,459 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Astec Industries by 165.2% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,094 shares of the industrial products company’s stock worth $229,000 after acquiring an additional 2,550 shares during the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in Astec Industries during the 2nd quarter worth approximately $230,000. 79.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Astec Industries, Inc. (ASTE) opened at $64.29 on Friday. The company has a market cap of $1,483.17, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 2.06 and a beta of 1.06. Astec Industries, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $73.37.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $252.10 million for the quarter, compared to analyst estimates of $261.06 million. Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. equities research analysts forecast that Astec Industries, Inc. will post 1.61 EPS for the current year.

Several research analysts recently weighed in on the stock. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a report on Friday, January 5th. Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $65.00 in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Astec Industries from a “strong sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, William Blair upgraded shares of Astec Industries from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $73.33.

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Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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