Stock of The Day: What’s in Astec Industries, Inc. After Making 52-Week High?

Stock of The Day: What's in Astec Industries, Inc. After Making 52 Week High?

The stock of Astec Industries, Inc. (NASDAQ:ASTE) hit a new 52-week high and has $81.67 target or 22.00% above today’s $66.94 share price. The 6 months bullish chart indicates low risk for the $1.57B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $81.67 price target is reached, the company will be worth $345.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,226 shares traded hands. Astec Industries, Inc. (NASDAQ:ASTE) has risen 41.14% since April 15, 2016 and is uptrending. It has outperformed by 36.52% the S&P500.

Astec Industries, Inc. (NASDAQ:ASTE) Ratings Coverage

Out of 6 analysts covering Astec Industries (NASDAQ:ASTE), 3 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. Astec Industries has been the topic of 9 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Tuesday, October 20 the stock rating was maintained by Maxim Group with “Buy”. Global Hunter Securities upgraded the shares of ASTE in a report on Monday, September 28 to “Accumulate” rating. As per Monday, May 16, the company rating was maintained by Maxim Group. The stock has “Buy” rating given by Stifel Nicolaus on Monday, August 31. The stock of Astec Industries, Inc. (NASDAQ:ASTE) has “Neutral” rating given on Wednesday, July 6 by Seaport Global. The firm earned “Underweight” rating on Tuesday, July 19 by Robert W. Baird.

According to Zacks Investment Research, “Astec Industries Inc. designs, engineers, manufactures, markets, and finances equipment and components used primarily in road building and related construction activities. The company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. In addition, the company is partner in a joint venture that makes testing and sampling equipment for the asphalt mix and aggregate processing industries.”

Insitutional Activity: The institutional sentiment increased to 1.67 in 2016 Q2. Its up 0.30, from 1.37 in 2016Q1. The ratio increased, as 11 funds sold all Astec Industries, Inc. shares owned while 37 reduced positions. 28 funds bought stakes while 52 increased positions. They now own 17.27 million shares or 6.53% less from 18.48 million shares in 2016Q1.
Hanseatic Svcs Incorporated, a New Mexico-based fund reported 17 shares. Cupps Cap Management Ltd Liability Com owns 41,150 shares or 0.6% of their US portfolio. Northwest Invest Counselors Limited Com accumulated 4,900 shares or 0.15% of the stock. New Jersey Better Educational Savings Tru has invested 0.64% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE). Natl Serv Inc Wi holds 5,201 shares or 0.33% of its portfolio. Friess Ltd Co holds 0.29% or 50,000 shares in its portfolio. The California-based Hennessy Advsr Incorporated has invested 0.18% in Astec Industries, Inc. (NASDAQ:ASTE). Columbus Circle Invsts holds 0.09% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE) for 161,087 shares. Walleye Trading Lc has 0% invested in the company for 500 shares. Guggenheim Cap Limited Company reported 12,891 shares or 0% of all its holdings. Ls Inv Limited Liability Company has 710 shares for 0% of their US portfolio. Public Sector Pension Inv Board last reported 13,442 shares in the company. Castleark Ltd Liability Company last reported 182,885 shares in the company. Caxton L P holds 0.04% of its portfolio in Astec Industries, Inc. (NASDAQ:ASTE) for 28,800 shares. Moreover, Ny State Teachers Retirement System has 0.01% invested in Astec Industries, Inc. (NASDAQ:ASTE) for 73,668 shares.

Insider Transactions: Since May 18, 2016, the stock had 0 buys, and 8 selling transactions for $1.38 million net activity. On Monday, August 1 ANDERSON STEPHEN C sold $64,831 worth of the stock or 1,070 shares. PATEK RICHARD A had sold 1,900 shares worth $100,814 on Tuesday, May 24. Silvious David C also sold $64,538 worth of Astec Industries, Inc. (NASDAQ:ASTE) on Friday, August 5. $207,773 worth of shares were sold by Irvine John J. III on Wednesday, November 9. Claude Steven L sold 1,987 shares worth $119,677. On Monday, August 1 SMITH W NORMAN sold $602,180 worth of the stock or 10,000 shares. 1,945 shares were sold by Kruger Tommie, worth $123,235.

More notable recent Astec Industries, Inc. (NASDAQ:ASTE) news were published by: Nasdaq.com which released: “Astec Industries, Inc. (ASTE) Ex-Dividend Date Scheduled for November 08, 2016” on November 07, 2016, also Nasdaq.com with their article: “Astec Industries, Inc. to Attend UBS Industrials and Transportation Conference” published on November 15, 2016, Globenewswire.com published: “Astec Industries, Inc. to Acquire Power Flame” on July 07, 2016. More interesting news about Astec Industries, Inc. (NASDAQ:ASTE) were released by: Marketwatch.com and their article: “Astec Industries downgraded neutral from outperform at RW Baird” published on December 22, 2009 as well as Quotes.Wsj.com‘s news article titled: “News Astec Industries Inc.ASTE” with publication date: February 12, 2011.

ASTE Company Profile

Astec Industries, Inc., incorporated on August 9, 1972, designs, engineers, makes and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface. The Firm also makes 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. The Firm also makes a line of multiple use plants for cement treated base, roller compacted concrete and ready-mix concrete. The Company’s business divisions are Infrastructure Group, Aggregate and Mining Group and Energy Group.

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