Bank of New York Mellon Corp Has $8.17 Million Position in Astec Industries, Inc. (NASDAQ:ASTE)

Bank of New York Mellon Corp raised its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,136 shares of the industrial products company's stock after purchasing an additional 9,635 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.07% of Astec Industries worth $8,169,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ASTE. Tompkins Financial Corp bought a new stake in shares of Astec Industries in the 4th quarter valued at approximately $34,000. R Squared Ltd acquired a new position in shares of Astec Industries during the 4th quarter worth $42,000. Point72 Asset Management L.P. acquired a new stake in shares of Astec Industries in the 3rd quarter valued at $45,000. Wilmington Savings Fund Society FSB bought a new stake in Astec Industries in the third quarter worth $49,000. Finally, SG Americas Securities LLC raised its holdings 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 in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Stock Performance

Shares of NASDAQ:ASTE traded down $0.40 during midday trading on Tuesday, hitting $36.24. The company's stock had a trading volume of 127,813 shares, compared to its average volume of 148,421. Astec Industries, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The stock has a market capitalization of $826.42 million, a price-to-earnings ratio of -452.94 and a beta of 1.32. The stock's 50 day simple moving average is $34.05 and its 200 day simple moving average is $33.90.

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

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, March 10th. Astec Industries's dividend payout ratio (DPR) is presently 273.68%.

Analyst Upgrades and Downgrades

ASTE has been the subject of several recent analyst reports. Robert W. Baird upped their price target on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. StockNews.com upgraded Astec Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th.

Astec Industries Company Profile

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.