Mirae Asset Global Investments Co. Ltd. boosted its position in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,175 shares of the industrial products company's stock after acquiring an additional 30,725 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.99% of Astec Industries worth $9,726,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC lifted its stake in shares of Astec Industries by 96.1% in the 1st quarter. Byrne Asset Management LLC now owns 1,047 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 513 shares during the period. Pinebridge Investments L.P. acquired a new position in Astec Industries in the fourth quarter valued at about $104,000. Rhumbline Advisers boosted its holdings in Astec Industries by 3.0% during the fourth quarter. Rhumbline Advisers now owns 66,911 shares of the industrial products company's stock worth $4,635,000 after buying an additional 1,922 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Astec Industries by 122.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company's stock worth $260,000 after buying an additional 2,070 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Astec Industries by 8.2% in the 4th quarter. SG Americas Securities LLC now owns 31,824 shares of the industrial products company's stock valued at $2,204,000 after acquiring an additional 2,409 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of Astec Industries from a "buy" rating to a "hold" rating in a report on Friday, May 13th.
Astec Industries Price Performance
Shares of Astec Industries stock opened at $42.74 on Friday. The company has a market capitalization of $977.04 million, a P/E ratio of 2,137.00 and a beta of 1.35. The business has a 50-day moving average of $43.33 and a two-hundred day moving average of $44.72. Astec Industries, Inc. has a 1 year low of $36.31 and a 1 year high of $75.00.
Astec Industries (NASDAQ:ASTE – Get Rating) last posted its earnings results on Tuesday, August 2nd. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.33). Astec Industries had a return on equity of 3.72% and a net margin of 0.03%. The business had revenue of $318.20 million for the quarter, compared to the consensus estimate of $308.70 million. During the same period in the previous year, the company posted $0.49 earnings per share. Astec Industries's revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities analysts anticipate that Astec Industries, Inc. will post 1.38 EPS for the current fiscal year.
Astec Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Friday, August 12th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 11th. Astec Industries's payout ratio is presently 2,400.00%.
Astec Industries Company Profile
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Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.
Further Reading
- Get a free copy of the StockNews.com research report on Astec Industries (ASTE)
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