Martin & Co. Inc. TN Purchases Shares of 332,670 Gencor Industries, Inc. $GENC

Key Points

• Martin & Co. Inc. TN acquired 332,670 shares of Gencor Industries during the second quarter, worth approximately $4.96 million and representing about 2.27% of the company.
• Several other institutional investors increased or initiated positions in Gencor, including Russell Investments Group, which raised its stake by 403.2%, and Royal Bank of Canada, which increased its holdings by 295.9%.
• Gencor shares opened at $19.02, near the company’s 52-week high of $20.19; the stock has a market capitalization of about $278.8 million and a P/E ratio of 17.29.

Martin & Co. Inc. TN bought a new position in shares of Gencor Industries, Inc. (NASDAQ:GENC - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 332,670 shares of the company's stock, valued at approximately $4,963,000. Gencor Industries accounts for about 0.8% of Martin & Co. Inc. TN's investment portfolio, making the stock its 27th largest holding. Martin & Co. Inc. TN owned approximately 2.27% of Gencor Industries at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GENC. Royal Bank of Canada increased its stake in Gencor Industries by 295.9% in the 4th quarter. Royal Bank of Canada now owns 1,932 shares of the company's stock worth $25,000 after purchasing an additional 1,444 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Gencor Industries by 104.1% during the third quarter. BNP Paribas Financial Markets now owns 2,633 shares of the company's stock valued at $39,000 after buying an additional 1,343 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Gencor Industries during the fourth quarter valued at about $55,000. Raymond James Financial Inc. acquired a new position in shares of Gencor Industries in the second quarter worth about $75,000. Finally, Russell Investments Group Ltd. increased its position in shares of Gencor Industries by 403.2% in the second quarter. Russell Investments Group Ltd. now owns 5,465 shares of the company's stock worth $82,000 after acquiring an additional 4,379 shares in the last quarter.

Gencor Industries Price Performance

GENC stock opened at $19.02 on Friday. Gencor Industries, Inc. has a 52-week low of $12.22 and a 52-week high of $20.19. The company's 50 day simple moving average is $15.71 and its 200-day simple moving average is $15.19. The firm has a market capitalization of $278.80 million, a P/E ratio of 17.29 and a beta of 0.49.

Gencor Industries Company Profile

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. It 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. The company also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.

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