StockNews.com Begins Coverage on Gencor Industries (NASDAQ:GENC)

StockNews.com assumed coverage on shares of Gencor Industries (NASDAQ:GENCGet Rating) in a research note issued on Saturday. The firm set a “hold” rating on the industrial products company’s stock.

NASDAQ:GENC opened at $9.98 on Friday. The firm has a market capitalization of $146.29 million, a price-to-earnings ratio of 71.29 and a beta of 0.58. The firm’s fifty day simple moving average is $10.17 and its 200 day simple moving average is $10.93. Gencor Industries has a twelve month low of $9.43 and a twelve month high of $13.08.

A number of hedge funds have recently modified their holdings of GENC. Verition Fund Management LLC bought a new stake in shares of Gencor Industries in the 3rd quarter worth about $111,000. Gamco Investors INC. ET AL increased its position in shares of Gencor Industries by 43.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 50,900 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 15,500 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Gencor Industries by 2.8% in the 3rd quarter. First Republic Investment Management Inc. now owns 150,435 shares of the industrial products company’s stock worth $1,668,000 after purchasing an additional 4,151 shares during the last quarter. Morgan Stanley grew its position in shares of Gencor Industries by 14.5% during the 2nd quarter. Morgan Stanley now owns 20,133 shares of the industrial products company’s stock valued at $245,000 after buying an additional 2,549 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Gencor Industries by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock valued at $207,000 after buying an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 41.25% of the company’s stock.

Gencor Industries Company Profile (Get Rating)

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. The company 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.

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