Gencor Industries (NASDAQ:GENC) Trading Up 3.3% - Time to Buy?

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report)'s stock price was up 3.3% during mid-day trading on Monday . The company traded as high as $14.38 and last traded at $14.32. Approximately 23,563 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 32,179 shares. The stock had previously closed at $13.86.

Gencor Industries Price Performance

The stock has a market capitalization of $209.90 million, a price-to-earnings ratio of 13.02 and a beta of 0.48. The business has a 50 day simple moving average of $15.16 and a 200-day simple moving average of $14.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC grew its stake in Gencor Industries by 6.7% in the second quarter. Orion Porfolio Solutions LLC now owns 50,948 shares of the company's stock valued at $713,000 after acquiring an additional 3,212 shares during the period. Bridgeway Capital Management LLC boosted its position in shares of Gencor Industries by 2.6% during the second quarter. Bridgeway Capital Management LLC now owns 42,719 shares of the company's stock worth $598,000 after buying an additional 1,100 shares during the period. Bank of America Corp DE boosted its position in shares of Gencor Industries by 49.9% during the second quarter. Bank of America Corp DE now owns 15,488 shares of the company's stock worth $217,000 after buying an additional 5,154 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Gencor Industries during the second quarter worth about $75,000. Finally, Gabelli Funds LLC boosted its position in shares of Gencor Industries by 20.7% during the second quarter. Gabelli Funds LLC now owns 51,400 shares of the company's stock worth $720,000 after buying an additional 8,800 shares during the period.

About Gencor Industries

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.

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