Short Interest in Astec Industries, Inc. (NASDAQ:ASTE) Expands By 6.3%

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 420,400 shares, an increase of 6.3% from the September 30th total of 395,400 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 140,900 shares, the days-to-cover ratio is presently 3.0 days.

Astec Industries Price Performance

Shares of ASTE traded up $1.04 during mid-day trading on Wednesday, reaching $32.61. The company had a trading volume of 64,225 shares, compared to its average volume of 147,515. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 2.50. The company has a market capitalization of $742.37 million, a price-to-earnings ratio of 28.96 and a beta of 1.27. The company's 50 day simple moving average is $31.72 and its 200 day simple moving average is $32.88.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.72 by ($0.11). The company had revenue of $345.50 million for the quarter, compared to analysts' expectations of $332.35 million. Astec Industries had a positive return on equity of 6.56% and a negative net margin of 0.18%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, November 13th. Astec Industries's dividend payout ratio is currently 47.71%.

Hedge Funds Weigh In On Astec Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Astec Industries by 141.6% during the 1st quarter. BNP Paribas Financial Markets now owns 15,424 shares of the industrial products company's stock valued at $674,000 after buying an additional 9,039 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Astec Industries in the 1st quarter worth $85,000. SG Americas Securities LLC acquired a new stake in shares of Astec Industries in the first quarter worth approximately $116,000. Sei Investments Co. boosted its stake in Astec Industries by 15.6% during the first quarter. Sei Investments Co. now owns 44,054 shares of the industrial products company's stock worth $1,926,000 after buying an additional 5,960 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Astec Industries by 251.0% during the 1st quarter. Russell Investments Group Ltd. now owns 96,480 shares of the industrial products company's stock worth $4,217,000 after purchasing an additional 68,991 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.

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.