Charles Schwab Investment Management Inc. trimmed its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,881 shares of the industrial products company's stock after selling 44,360 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.35% of Astec Industries worth $9,866,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock worth $36,000 after buying an additional 458 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Astec Industries in the 3rd quarter worth approximately $72,000. nVerses Capital LLC increased its holdings in Astec Industries by 425.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company's stock worth $134,000 after buying an additional 3,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Astec Industries by 52.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company's stock valued at $178,000 after acquiring an additional 2,056 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Astec Industries in the second quarter worth $225,000. Hedge funds and other institutional investors own 93.16% of the company's stock.
Astec Industries Price Performance
Shares of ASTE traded up $0.15 during trading hours on Tuesday, hitting $38.21. 52,897 shares of the stock were exchanged, compared to its average volume of 146,538. The stock's 50-day moving average price is $34.54 and its two-hundred day moving average price is $32.77. 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 company has a market cap of $871.19 million, a price-to-earnings ratio of -482.94 and a beta of 1.30. Astec Industries, Inc. has a 12-month low of $28.46 and a 12-month high of $44.74.
Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts' consensus estimates of $0.31. The company had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. Astec Industries's quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS.
Astec Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.13 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 annualized dividend and a yield of 1.36%. Astec Industries's payout ratio is -649.92%.
Analysts Set New Price Targets
A number of analysts have recently commented on ASTE shares. Robert W. Baird upped their target price on Astec Industries from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. StockNews.com upgraded Astec Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd.
Read Our Latest Analysis on ASTE
Astec Industries Profile
(
Free Report)
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.
Further Reading
Before you consider Astec Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astec Industries wasn't on the list.
While Astec Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
