Astec Industries, Inc. $ASTE Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 10.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 125,564 shares of the industrial products company’s stock after acquiring an additional 12,211 shares during the period. Principal Financial Group Inc.’s holdings in Astec Industries were worth $6,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Amalgamated Bank grew its holdings in shares of Astec Industries by 3.4% during the third quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock valued at $324,000 after buying an additional 224 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Astec Industries by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock worth $662,000 after acquiring an additional 274 shares during the period. FNY Investment Advisers LLC purchased a new position in Astec Industries during the 2nd quarter valued at about $27,000. Legal & General Group Plc increased its holdings in shares of Astec Industries by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock valued at $2,495,000 after purchasing an additional 694 shares during the period. Finally, CWM LLC lifted its position in shares of Astec Industries by 16.5% in the third quarter. CWM LLC now owns 7,449 shares of the industrial products company’s stock worth $359,000 after purchasing an additional 1,055 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Price Performance

NASDAQ ASTE opened at $59.27 on Friday. 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 capitalization of $1.36 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.57 and a beta of 1.45. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $59.99. The company has a 50 day moving average price of $48.64 and a two-hundred day moving average price of $46.60.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.00.

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.