Brandywine Global Investment Management LLC reduced its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,460 shares of the industrial products company's stock after selling 41,920 shares during the quarter. Brandywine Global Investment Management LLC owned 0.29% of Astec Industries worth $2,199,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in ASTE. Tompkins Financial Corp purchased a new stake in Astec Industries during the 4th quarter worth $34,000. R Squared Ltd acquired a new position in shares of Astec Industries during the fourth quarter worth about $42,000. Point72 Asset Management L.P. purchased a new stake in shares of Astec Industries in the third quarter worth about $45,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Astec Industries in the third quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astec Industries during the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 93.16% of the company's stock.
Analyst Upgrades and Downgrades
ASTE has been the subject of several recent research reports. Robert W. Baird increased their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th.
Read Our Latest Research Report on ASTE
Astec Industries Stock Down 1.6 %
Shares of NASDAQ ASTE traded down $0.50 during midday trading on Monday, reaching $31.07. 225,069 shares of the company's stock were exchanged, compared to its average volume of 158,329. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries, Inc. has a 52-week low of $28.46 and a 52-week high of $44.74. The business's fifty day moving average price is $34.45 and its two-hundred day moving average price is $34.27. The stock has a market capitalization of $708.52 million, a PE ratio of -388.33 and a beta of 1.39.
Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.46. The company had revenue of $359.00 million for the quarter, compared to the consensus estimate of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.
Astec Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.13 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.52 annualized dividend and a yield of 1.67%. Astec Industries's dividend payout ratio is presently 273.68%.
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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