Victory Capital Amends Astec Industries Stake, Holds 1.93M Shares

TL;DR

**Victory Capital still holds nearly 2 million shares of Astec Industries, showing continued institutional interest.**

AI Summary

Victory Capital Management Inc. filed an amended SC 13G/A on February 6, 2024, disclosing its beneficial ownership in Astec Industries Inc. As of December 31, 2023, Victory Capital Management Inc. holds sole voting power over 1,934,749 shares and sole dispositive power over 1,934,970 shares of Astec Industries' common stock. This filing indicates a significant institutional investor's continued, albeit slightly adjusted, stake in Astec Industries, which can influence investor confidence and potentially the stock's stability.

Why It Matters

This filing shows a major institutional investor's current position in Astec Industries, which can signal confidence or concern to other investors and potentially impact the stock's trading volume and price.

Risk Assessment

Risk Level: low — This filing is a routine update from an institutional investor and does not indicate any immediate negative or highly volatile events for the company.

Analyst Insight

An investor should note that a major institutional investor, Victory Capital Management Inc., continues to hold a substantial position in Astec Industries Inc., which could be seen as a sign of ongoing institutional confidence. However, this filing alone doesn't provide a reason to buy or sell, but rather confirms existing institutional interest.

Key Numbers

• 1,934,749 — Sole Voting Power Shares (Represents the number of shares Victory Capital Management Inc. can vote.)
• 1,934,970 — Sole Dispositive Power Shares (Represents the number of shares Victory Capital Management Inc. can sell or dispose of.)

Key Players & Entities

• Victory Capital Management Inc. (company) — the reporting person beneficially owning shares of Astec Industries Inc.
• Astec Industries Inc. (company) — the issuer whose securities are being reported.
• 1,934,749 (dollar_amount) — number of shares with sole voting power held by Victory Capital Management Inc. as of December 31, 2023.
• 1,934,970 (dollar_amount) — number of shares with sole dispositive power held by Victory Capital Management Inc. as of December 31, 2023.
• December 31, 2023 (date) — the date of the event which required the filing of this statement.

Forward-Looking Statements

• Victory Capital Management Inc. will maintain a significant stake in Astec Industries Inc. for the foreseeable future. (Victory Capital Management Inc.) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• astecindustries13ga2_123123.htm (SC 13G/A) — 41KB
• 0001040188-24-000008.txt ( ) — 43KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 1,934,970 (b) Percent of class: 8.51% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,924,749 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,934,970 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein. No client has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of such class except for the Victory Sycamore Small Cap Opportunity Fund which holds 6.22%.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable.

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 046224101 13G Page 4 of 4 Pages After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/6/24 Date /s/ Barry Garrett Signature Barry Garrett/ Chief Compliance Officer Name/Title

View Full Filing

View this SC 13G/A filing on SEC EDGAR