GAMCO Investors Amends Astec Industries Stake Filing

TL;DR

GAMCO updated their Astec Industries stake filing - check for changes in ownership.

AI Summary

GAMCO Investors, Inc. et al. filed an amendment (No. 9) to their Schedule 13D on July 10, 2024, regarding their holdings in Astec Industries, Inc. The filing indicates a change in their beneficial ownership of Astec Industries' common stock.

Why It Matters

This filing updates information about significant shareholders, which can influence investor perception and stock price movements for Astec Industries.

Risk Assessment

Risk Level: medium — Schedule 13D filings often signal significant investor activity, which can lead to volatility.

Key Players & Entities

• GAMCO Investors, Inc. et al. (company) — Filer of the Schedule 13D amendment
• Astec Industries, Inc. (company) — Subject company of the filing
• 20240710 (date) — Date of the filing

FAQ

Key Financial Figures

• $0.20 — ame of Issuer) Common Stock, par value $0.20 per share (Title of Class of Securitie
• $11,763,569 — sons used an aggregate of approximately $11,763,569 to purchase the additional Securities r
• $11,187,479 — CO and Gabelli Funds used approximately $11,187,479 and $153,333, respectively, of funds th
• $153,333 — unds used approximately $11,187,479 and $153,333, respectively, of funds that were provi
• $356,225 — ents. MJG Associates used approximately $356,225 of client funds to purchase the additio
• $47,360 — ed by it. Foundation used approximately $47,360 of funds of a private entity to purchas
• $1,803 — reported by it. GBL used approximately $1,803 of working capital to purchase the addi
• $17,370 — reported by it. MJG used approximately $17,370 of private funds to purchase the additi

Filing Documents

• aste_09.htm (SC 13D/A) — 215KB
• 0000807249-24-000074.txt ( ) — 217KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 9 to Schedule 13D on the Common Stock of Astec Industries, Inc. (the "Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D") which was originally filed on March 19, 2014. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meanings as set forth in the Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration

to Schedule 13D is amended, in pertinent part, as follows

Item 3 to Schedule 13D is amended, in pertinent part, as follows: The Reporting Persons used an aggregate of approximately $11,763,569 to purchase the additional Securities reported as beneficially owned in Item 5 since the most recent filing on Schedule 13D. GAMCO and Gabelli Funds used approximately $11,187,479 and $153,333, respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the additional Securities for such clients. MJG Associates used approximately $356,225 of client funds to purchase the additional Securities reported by it. Foundation used approximately $47,360 of funds of a private entity to purchase the additional Securities reported by it. GBL used approximately $1,803 of working capital to purchase the additional Securities reported by it. MJG used approximately $17,370 of private funds to purchase the additional Securities reported by him.

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates 1,989,789 shares, representing 8.74% of the 22,765,328 shares outstanding as reported in the Issuer's most recently filed Form 10-Q for the quarterly period ended March 31, 2024. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common GAMCO Gabelli Funds Teton Advisors Mario Gabelli Foundation MJG Associates GBL 1,257,666 581,500 139,000 600 1,480 9,500 43 5.52% 2.55% 0.61% 0.00% 0.01% 0.04% 0.00% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have the authority to vote 27,800 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund's shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities bene

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