Gabelli's GAMCO Ups Its ASTE Stake to 8.74%

Mario Gabelli and GAMCO Investors are back on our list.

GAMCO and Gabelli’s other funds filed a 13D revealing an increase in ownership from 7.25% to 8.74% in Astec Industries $ASTE.

Here’s The Hot Corner, with data through July 10, 2024:

Orion Resource Partners filed a 13G for Skeena Resources Limited $SKE revealing an initial stake of 14.51%.

ASTE has been trading in a well-defined range for the past eight years. Price is currently pressing on the lower bounds. 

The long-term moving average has been trending lower for some time now, indicating that sellers are in complete control.

This one is a no-touch if it’s below 27. Even if it holds this shelf of former lows, there is a lot of work to do before a new uptrend can be underway.

Stay tuned. We'll be back on Friday with more insider activity.

And please reach out with any questions. We love hearing from you!