FMR LLC lessened its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 877,710 shares of the industrial products company's stock after selling 324,774 shares during the quarter. FMR LLC owned 3.85% of Astec Industries worth $28,034,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Astec Industries by 69.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock worth $36,000 after buying an additional 458 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Astec Industries in the 3rd quarter valued at about $72,000. nVerses Capital LLC raised its stake in shares of Astec Industries by 425.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company's stock valued at $134,000 after purchasing an additional 3,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Astec Industries by 52.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company's stock valued at $178,000 after purchasing an additional 2,056 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Astec Industries in the third quarter valued at about $233,000. Institutional investors and hedge funds own 93.16% of the company's stock.
Astec Industries Price Performance
ASTE traded up $0.08 during trading on Tuesday, hitting $38.14. 145,746 shares of the stock traded hands, compared to its average volume of 146,948. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The company has a market cap of $869.67 million, a price-to-earnings ratio of -476.75 and a beta of 1.30. 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 business has a 50 day moving average price of $34.68 and a 200 day moving average price of $32.80.
Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The company's revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share.
Astec Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.36%. Astec Industries's dividend payout ratio is -650.00%.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Robert W. Baird lifted their price target on Astec Industries from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. StockNews.com upgraded Astec Industries from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd.
Get Our Latest Stock Report on Astec Industries
Astec Industries Company Profile
(
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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