Astec Industries, Inc. (NASDAQ:ASTE) Shares Bought by Easterly Investment Partners LLC

Easterly Investment Partners LLC boosted its position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 89.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,631 shares of the industrial products company's stock after buying an additional 19,134 shares during the quarter. Easterly Investment Partners LLC owned approximately 0.18% of Astec Industries worth $1,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in Astec Industries by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company's stock worth $264,000 after purchasing an additional 315 shares during the period. GAMMA Investing LLC raised its stake in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock worth $36,000 after purchasing an additional 458 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Astec Industries by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,413 shares of the industrial products company's stock worth $762,000 after purchasing an additional 975 shares during the period. Lazard Asset Management LLC purchased a new position in Astec Industries during the first quarter worth about $66,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Astec Industries by 10.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 19,117 shares of the industrial products company's stock worth $835,000 after purchasing an additional 1,878 shares during the period. Institutional investors and hedge funds own 93.16% of the company's stock.

Astec Industries Stock Performance

Shares of ASTE traded up $0.69 during trading on Friday, reaching $37.82. 233,930 shares of the company traded hands, compared to its average volume of 160,949. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The stock has a 50-day simple moving average of $31.83 and a 200-day simple moving average of $32.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 1.04.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The business had revenue of $291.40 million during the quarter, compared to analysts' expectations of $312.90 million. During the same period last year, the business earned ($0.01) earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Wednesday, November 13th. Astec Industries's dividend payout ratio (DPR) is currently -649.92%.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their target price on shares of Astec Industries from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday.

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.