Segall Bryant & Hamill LLC cut its holdings in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,899 shares of the industrial products company's stock after selling 41,153 shares during the period. Segall Bryant & Hamill LLC owned approximately 1.77% of Astec Industries worth $13,571,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prudential Financial Inc. increased its holdings in Astec Industries by 14.8% in the fourth quarter. Prudential Financial Inc. now owns 27,011 shares of the industrial products company's stock worth $908,000 after purchasing an additional 3,480 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Astec Industries in the 4th quarter valued at $128,000. Sei Investments Co. increased its stake in shares of Astec Industries by 10.0% in the 4th quarter. Sei Investments Co. now owns 66,449 shares of the industrial products company's stock valued at $2,233,000 after acquiring an additional 6,015 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Astec Industries by 184.4% during the 4th quarter. American Century Companies Inc. now owns 181,772 shares of the industrial products company's stock valued at $6,108,000 after acquiring an additional 117,858 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Astec Industries by 63.7% during the fourth quarter. Intech Investment Management LLC now owns 16,338 shares of the industrial products company's stock worth $549,000 after acquiring an additional 6,355 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on ASTE. Robert W. Baird upped their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. StockNews.com raised Astec Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th.
Get Our Latest Stock Report on Astec Industries
Astec Industries Stock Down 2.5 %
ASTE traded down $0.88 during trading on Friday, hitting $35.03. 140,600 shares of the company's stock were exchanged, compared to its average volume of 157,611. Astec Industries, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The stock has a market cap of $798.82 million, a P/E ratio of -437.82 and a beta of 1.32. The business's 50 day moving average is $34.69 and its two-hundred day moving average is $34.21. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.
Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate 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 company had revenue of $359.00 million during the quarter, compared to the consensus estimate of $374.10 million.
Astec Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.48%. 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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