Gencor Industries (NASDAQ:GENC) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of Gencor Industries (NASDAQ:GENCGet Rating) in a research note issued on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

GENC opened at $9.97 on Wednesday. The stock has a market capitalization of $146.14 million, a PE ratio of 71.21 and a beta of 0.58. The firm’s fifty day moving average price is $10.07 and its 200 day moving average price is $10.60. Gencor Industries has a 12-month low of $9.43 and a 12-month high of $12.95.

A number of institutional investors and hedge funds have recently bought and sold shares of GENC. Verition Fund Management LLC acquired a new stake in shares of Gencor Industries during the third quarter worth $111,000. State Street Corp grew its position in shares of Gencor Industries by 17.8% during the 1st quarter. State Street Corp now owns 17,627 shares of the industrial products company’s stock valued at $181,000 after buying an additional 2,659 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Gencor Industries by 6.6% during the first quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,252 shares during the period. Gabelli Funds LLC raised its stake in Gencor Industries by 26.9% during the first quarter. Gabelli Funds LLC now owns 33,000 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 7,000 shares during the period. Finally, Gamco Investors INC. ET AL raised its stake in Gencor Industries by 7.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 54,510 shares of the industrial products company’s stock worth $629,000 after acquiring an additional 3,610 shares during the period. 41.25% of the stock is currently owned by hedge funds and other institutional investors.

About Gencor Industries (Get Rating)

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.

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