Vanguard Group Inc. Trims Stake in Astec Industries, Inc. (NASDAQ:ASTE)

Vanguard Group Inc. cut its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,554,976 shares of the industrial products company's stock after selling 20,550 shares during the period. Vanguard Group Inc. owned 11.21% of Astec Industries worth $85,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ASTE. State Street Corp boosted its position in shares of Astec Industries by 3.1% during the third quarter. State Street Corp now owns 875,128 shares of the industrial products company's stock valued at $27,952,000 after purchasing an additional 26,256 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Astec Industries by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 569,089 shares of the industrial products company's stock valued at $18,180,000 after buying an additional 22,743 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Astec Industries by 11.3% in the 4th quarter. First Eagle Investment Management LLC now owns 245,851 shares of the industrial products company's stock worth $8,261,000 after buying an additional 25,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Astec Industries by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 243,136 shares of the industrial products company's stock worth $8,169,000 after acquiring an additional 9,635 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in 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. Hedge funds and other institutional investors own 93.16% of the company's stock.

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Astec Industries Stock Up 1.2 %

NASDAQ:ASTE traded up $0.42 on Tuesday, reaching $34.56. 7,451 shares of the stock traded hands, compared to its average volume of 159,584. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $788.11 million, a price-to-earnings ratio of -432.00 and a beta of 1.39. Astec Industries, Inc. has a 12 month low of $28.46 and a 12 month high of $44.03. The company's fifty day simple moving average is $34.22 and its 200 day simple moving average is $34.30.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share 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 company had revenue of $359.00 million during the quarter, compared to analyst estimates of $374.10 million.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.13 per share. The ex-dividend date was Monday, March 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.50%. Astec Industries's dividend payout ratio (DPR) is presently 273.68%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird raised their target price 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. StockNews.com raised Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th.

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.