California State Teachers Retirement System cut its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 3.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,452 shares of the industrial products company’s stock after selling 1,137 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Astec Industries worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Astec Industries by 1.1% during the first quarter. BlackRock Inc. now owns 2,532,719 shares of the industrial products company’s stock worth $139,755,000 after buying an additional 26,528 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Astec Industries by 69.7% during the first quarter. Franklin Resources Inc. now owns 1,778,353 shares of the industrial products company’s stock worth $98,129,000 after buying an additional 730,594 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Astec Industries by 0.9% during the first quarter. Gabelli Funds LLC now owns 605,900 shares of the industrial products company’s stock worth $33,434,000 after buying an additional 5,700 shares in the last quarter. Marcato Capital Management LP acquired a new position in shares of Astec Industries during the first quarter worth about $29,016,000. Finally, Northern Trust Corp grew its position in shares of Astec Industries by 2.3% during the first quarter. Northern Trust Corp now owns 292,064 shares of the industrial products company’s stock worth $16,116,000 after buying an additional 6,651 shares in the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.

ASTE has been the subject of a number of analyst reports. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, July 13th. Robert W. Baird restated a “buy” rating and set a $64.00 target price on shares of Astec Industries in a research note on Friday, April 13th. ValuEngine upgraded Astec Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, Stifel Nicolaus decreased their target price on Astec Industries from $67.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, April 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $67.25.

In related news, CEO Benjamin G. Brock sold 22,439 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $54.71, for a total transaction of $1,227,637.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.

ASTE stock opened at $61.67 on Friday. The company has a market cap of $1.40 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.79 and a beta of 1.13. Astec Industries, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $64.80.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. The firm had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. Astec Industries had a return on equity of 6.09% and a net margin of 3.60%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share. analysts forecast that Astec Industries, Inc. will post 3.39 EPS for the current year.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.

Recommended Story: Short Selling

Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries, Inc. (NASDAQ:ASTE).

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.