Peregrine Capital Management LLC Trims Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

Peregrine Capital Management LLC reduced its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,510 shares of the industrial products company’s stock after selling 4,253 shares during the quarter. Peregrine Capital Management LLC’s holdings in Astec Industries were worth $4,452,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position in Astec Industries by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 110,573 shares of the industrial products company’s stock valued at $3,715,000 after purchasing an additional 3,082 shares during the period. Legato Capital Management LLC increased its position in Astec Industries by 196.1% during the 4th quarter. Legato Capital Management LLC now owns 27,671 shares of the industrial products company’s stock valued at $930,000 after purchasing an additional 18,325 shares during the period. R Squared Ltd purchased a new position in Astec Industries during the 4th quarter valued at $42,000. SG Americas Securities LLC increased its position in Astec Industries by 14.3% during the 4th quarter. SG Americas Securities LLC now owns 12,602 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 1,577 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Astec Industries by 319.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 16,045 shares of the industrial products company’s stock valued at $539,000 after purchasing an additional 12,217 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ASTE shares. StockNews.com downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Stock Performance

Shares of ASTE stock opened at $33.50 on Thursday. Astec Industries, Inc. has a 12 month low of $28.46 and a 12 month high of $44.74. The stock has a market cap of $763.80 million, a PE ratio of -418.70 and a beta of 1.31. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $33.83 and its 200-day moving average price is $33.63.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.