Broadview Advisors Lowers stake in Astec Industries (ASTE)

Astec Industries (ASTE) : Broadview Advisors reduced its stake in Astec Industries by 17.98% during the most recent quarter end. The investment management company now holds a total of 361,062 shares of Astec Industries which is valued at $23,862,588 after selling 79,150 shares in Astec Industries , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Astec Industries makes up approximately 3.31% of Broadview Advisors’s portfolio.

Other Hedge Funds, Including , Usa Financial Portformulas Corp boosted its stake in ASTE in the latest quarter, The investment management firm added 5,059 additional shares and now holds a total of 12,292 shares of Astec Industries which is valued at $777,100. Astec Industries makes up approx 0.21% of Usa Financial Portformulas Corp’s portfolio.Tiaa Cref Investment Management boosted its stake in ASTE in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 64,146 shares of Astec Industries which is valued at $3,563,952.Ftb Advisors reduced its stake in ASTE by selling 200 shares or 50.0% in the most recent quarter. The Hedge Fund company now holds 200 shares of ASTE which is valued at $11,072.Texas Permanent School Fund boosted its stake in ASTE in the latest quarter, The investment management firm added 123 additional shares and now holds a total of 14,569 shares of Astec Industries which is valued at $791,097. Astec Industries makes up approx 0.01% of Texas Permanent School Fund’s portfolio.

Astec Industries closed down -1.72 points or -2.62% at $63.98 with 2,20,217 shares getting traded on Monday. Post opening the session at $65.95, the shares hit an intraday low of $63.87 and an intraday high of $65.95 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Astec Industries reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Oct 25, 2016. Analyst had a consensus of $0.35. The company had revenue of $247.80 million for the quarter, compared to analysts expectations of $244.36 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Astec Industries Inc. designs engineers manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in road building from quarrying and crushing the aggregate to application of the road surface. The Company manufactures certain equipment and components unrelated to road construction including equipment for the mining quarrying construction and demolition industries and port and rail yard operators; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders and blower trucks. It also manufactures multiple use plants for cement treated base roller compacted concrete and ready-mix concrete. The Company’s business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.

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