Dean Investment Associates LLC cut its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 63.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,821 shares of the industrial products company's stock after selling 41,944 shares during the quarter. Dean Investment Associates LLC owned about 0.10% of Astec Industries worth $761,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harvey Partners LLC grew its holdings in shares of Astec Industries by 101.4% in the third quarter. Harvey Partners LLC now owns 282,000 shares of the industrial products company's stock valued at $9,007,000 after purchasing an additional 142,000 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Astec Industries by 96.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company's stock valued at $5,465,000 after buying an additional 84,202 shares during the period. Mill Road Capital Management LLC acquired a new stake in shares of Astec Industries during the 3rd quarter worth approximately $2,467,000. John G Ullman & Associates Inc. raised its position in shares of Astec Industries by 64.3% during the 3rd quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company's stock valued at $4,290,000 after buying an additional 52,571 shares during the period. Finally, Peregrine Capital Management LLC lifted its holdings in Astec Industries by 41.0% in the second quarter. Peregrine Capital Management LLC now owns 175,738 shares of the industrial products company's stock valued at $5,212,000 after acquiring an additional 51,141 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have issued reports on ASTE. StockNews.com raised Astec Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Robert W. Baird raised their price objective on Astec Industries from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th.
Check Out Our Latest Stock Analysis on ASTE
Astec Industries Trading Up 1.0 %
Shares of NASDAQ:ASTE traded up $0.39 during mid-day trading on Monday, reaching $38.06. 96,514 shares of the company were exchanged, compared to its average volume of 146,953. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The firm's 50-day simple moving average is $34.54 and its 200 day simple moving average is $32.77. The firm has a market cap of $867.77 million, a price-to-earnings ratio of -475.69 and a beta of 1.30.
Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted ($0.01) earnings per share.
Astec Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.37%. Astec Industries's dividend payout ratio (DPR) is presently -649.92%.
About Astec Industries
(
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.
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