State Street Corp Has $27.95 Million Stock Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

State Street Corp raised its position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 875,128 shares of the industrial products company's stock after purchasing an additional 26,256 shares during the quarter. State Street Corp owned about 3.84% of Astec Industries worth $27,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company's stock worth $36,000 after purchasing an additional 458 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Astec Industries in the third quarter worth approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astec Industries in the third quarter valued at $64,000. Point72 DIFC Ltd acquired a new stake in shares of Astec Industries during the 3rd quarter valued at $69,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Astec Industries during the 3rd quarter worth $72,000. 93.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Astec Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on Astec Industries from $36.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th.

Astec Industries Stock Down 1.0 %

NASDAQ:ASTE traded down $0.34 during trading hours on Monday, hitting $32.95. 100,437 shares of the stock traded hands, compared to its average volume of 147,305. The firm has a 50 day moving average price of $35.50 and a 200 day moving average price of $33.03. The firm has a market cap of $751.33 million, a price-to-earnings ratio of -411.82 and a beta of 1.30. Astec Industries, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $291.40 million for the quarter, compared to the consensus estimate of $312.90 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Astec Industries's revenue for the quarter was down 3.9% compared to the same quarter last year.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, November 13th. Astec Industries's dividend payout ratio (DPR) is -650.00%.

About Astec Industries

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.