Easterly Investment Partners LLC Has $2.30 Million Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

Easterly Investment Partners LLC lifted its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 68.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,538 shares of the industrial products company's stock after acquiring an additional 27,907 shares during the quarter. Easterly Investment Partners LLC owned 0.30% of Astec Industries worth $2,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tompkins Financial Corp bought a new stake in shares of Astec Industries during the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new stake in shares of Astec Industries during the fourth quarter valued at $42,000. Point72 Asset Management L.P. acquired a new position in shares of Astec Industries in the 3rd quarter valued at $45,000. Wilmington Savings Fund Society FSB purchased a new position in Astec Industries in the 3rd quarter worth about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astec Industries during the 3rd quarter worth about $64,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASTE. Robert W. Baird lifted their target price on Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. StockNews.com raised shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th.

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Astec Industries Stock Performance

Shares of NASDAQ ASTE traded down $0.45 during trading hours on Monday, hitting $34.59. 18,535 shares of the stock were exchanged, compared to its average volume of 157,071. The firm has a market capitalization of $788.68 million, a P/E ratio of -431.95 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $44.74. The company's 50 day moving average is $34.69 and its 200 day moving average is $34.21.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $1.19 EPS for the quarter, topping 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 company had revenue of $359.00 million during the quarter, compared to analyst estimates of $374.10 million.

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.50%. Astec Industries's dividend payout ratio is currently 273.68%.

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.