Connor Clark & Lunn Investment Management Ltd. Buys 9,042 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 123.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,346 shares of the industrial products company's stock after buying an additional 9,042 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Astec Industries worth $549,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tompkins Financial Corp purchased a new position in Astec Industries in the fourth quarter worth $34,000. R Squared Ltd bought a new stake in shares of Astec Industries during the 4th quarter worth $42,000. Point72 Asset Management L.P. purchased a new position in shares of Astec Industries in the 3rd quarter worth about $45,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Astec Industries in the 3rd quarter worth about $49,000. Finally, SG Americas Securities LLC grew its position in Astec Industries by 14.3% during the fourth quarter. SG Americas Securities LLC now owns 12,602 shares of the industrial products company's stock valued at $423,000 after buying an additional 1,577 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Robert W. Baird increased their price objective on Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 27th.

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Astec Industries Stock Performance

Astec Industries stock traded up $0.16 during midday trading on Wednesday, reaching $36.52. The stock had a trading volume of 97,713 shares, compared to its average volume of 149,327. The firm has a market capitalization of $832.80 million, a PE ratio of -456.44 and a beta of 1.32. Astec Industries, Inc. has a 12 month low of $28.46 and a 12 month high of $44.74. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The firm's 50-day moving average price is $34.55 and its 200 day moving average price is $34.09.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.46. The company had revenue of $359.00 million for the quarter, compared to analyst estimates of $374.10 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, March 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.42%. Astec Industries's dividend payout ratio is currently 273.68%.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.