Teacher Retirement System of Texas Has $685,000 Stake in Astec Industries, Inc. $ASTE

Teacher Retirement System of Texas grew its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 190.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 14,234 shares of the industrial products company’s stock after purchasing an additional 9,332 shares during the period. Teacher Retirement System of Texas owned about 0.06% of Astec Industries worth $685,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ASTE. Geode Capital Management LLC boosted its position in shares of Astec Industries by 2.0% during the second quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock valued at $24,109,000 after buying an additional 11,365 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Astec Industries by 49.4% in the 2nd quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock worth $22,510,000 after purchasing an additional 178,545 shares during the period. Invesco Ltd. grew its holdings in Astec Industries by 29.9% during the second quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock valued at $20,629,000 after purchasing an additional 113,765 shares during the period. Harvey Partners LLC increased its holdings in Astec Industries by 0.8% in the 2nd quarter. Harvey Partners LLC now owns 337,845 shares of the industrial products company’s stock worth $14,085,000 after acquiring an additional 2,845 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Astec Industries by 8.6% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 216,066 shares of the industrial products company’s stock valued at $9,008,000 after buying an additional 17,056 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Astec Industries presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Astec Industries Stock Performance

Shares of ASTE opened at $54.46 on Thursday. The business’s 50 day moving average price is $46.89 and its 200-day moving average price is $45.74. The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.25 billion, a P/E ratio of 26.18, a P/E/G ratio of 2.29 and a beta of 1.45. Astec Industries, Inc. has a 52 week low of $29.65 and a 52 week high of $54.99.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $336.00 million. Astec Industries had a return on equity of 11.93% and a net margin of 3.50%.

Astec Industries Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.