StockNews.com assumed coverage on shares of Gencor Industries (NASDAQ:GENC – Get Rating) in a research report report published on Saturday morning. The firm issued a hold rating on the industrial products company’s stock.
Shares of GENC stock opened at $9.98 on Friday. Gencor Industries has a 12-month low of $9.43 and a 12-month high of $13.08. The business’s 50 day moving average is $10.16 and its two-hundred day moving average is $10.93. The company has a market capitalization of $146.31 million, a P/E ratio of 71.29 and a beta of 0.58.
Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Gencor Industries by 281.8% during the second quarter. Royal Bank of Canada now owns 4,123 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 3,043 shares in the last quarter. Verition Fund Management LLC purchased a new position in Gencor Industries in the 3rd quarter valued at about $111,000. State Street Corp boosted its holdings in Gencor Industries by 17.8% in the 1st quarter. State Street Corp now owns 17,627 shares of the industrial products company’s stock worth $181,000 after buying an additional 2,659 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Gencor Industries by 6.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock worth $207,000 after buying an additional 1,252 shares in the last quarter. Finally, Morgan Stanley increased its stake in Gencor Industries by 14.5% during the 2nd quarter. Morgan Stanley now owns 20,133 shares of the industrial products company’s stock worth $245,000 after buying an additional 2,549 shares in the last quarter. 41.25% of the stock is currently owned by hedge funds and other institutional investors.
Gencor Industries, Inc, together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. The company offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants.
- Get a free copy of the StockNews.com research report on Gencor Industries (GENC)
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