ExodusPoint Capital Management LP Invests $882,000 in Astec Industries, Inc. (NASDAQ:ASTE)

ExodusPoint Capital Management LP bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 26,247 shares of the industrial products company's stock, valued at approximately $882,000. ExodusPoint Capital Management LP owned approximately 0.12% of Astec Industries at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Tompkins Financial Corp bought a new stake in Astec Industries in the 4th quarter valued at $34,000. R Squared Ltd bought a new stake in Astec Industries in the 4th quarter valued at approximately $42,000. Point72 Asset Management L.P. bought a new position in shares of Astec Industries during the 3rd quarter worth approximately $45,000. Wilmington Savings Fund Society FSB bought a new position in Astec Industries in the third quarter valued at $49,000. Finally, Meeder Asset Management Inc. bought a new stake in Astec Industries during the 4th quarter worth about $86,000. Institutional investors own 93.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com upgraded Astec Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Robert W. Baird increased their price target on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th.

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Astec Industries Stock Performance

Shares of ASTE stock traded down $0.36 during midday trading on Wednesday, hitting $34.12. 15,871 shares of the company were exchanged, compared to its average volume of 159,816. 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 firm's 50 day moving average price is $34.23 and its two-hundred day moving average price is $34.30. Astec Industries, Inc. has a 52 week low of $28.46 and a 52 week high of $44.03. The firm has a market capitalization of $778.07 million, a P/E ratio of -425.45 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released 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 negative net margin of 0.15% and a positive return on equity of 7.69%. The business had revenue of $359.00 million for the quarter, compared to analyst estimates of $374.10 million.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.52%. Astec Industries's payout ratio is 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.