Is Astec Industries, Inc. (ASTE) A Good Stock To Buy?

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Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Astec Industries, Inc. (NASDAQ:ASTE) but similarly valued. These stocks are DHX Media Ltd (USA) (NASDAQ:DHXM), Relypsa Inc (NASDAQ:RLYP), Inter Parfums, Inc. (NASDAQ:IPAR), and K2M Group Holdings Inc (NASDAQ:KTWO). This group of stocks’ market caps are closest to ASTE’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
DHXM 5 140343 -1
RLYP 25 311230 -3
IPAR 6 19743 -5
KTWO 11 44503 2

As you can see these stocks had an average of 11.75 hedge funds with bullish positions and the average amount invested in these stocks was $129 million. That figure was $86 million in ASTE’s case. Relypsa Inc (NASDAQ:RLYP) is the most popular stock in this table. On the other hand DHX Media Ltd (USA) (NASDAQ:DHXM) is the least popular one with only 5 bullish hedge fund positions. Astec Industries, Inc. (NASDAQ:ASTE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard RLYP might be a better candidate to consider a long position.

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