GSA Capital Partners LLP acquired a new stake in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,583 shares of the industrial products company's stock, valued at approximately $283,000.
Several other institutional investors and hedge funds have also made changes to their positions in ASTE. Nisa Investment Advisors LLC acquired a new stake in Astec Industries during the first quarter valued at approximately $179,000. Bank of America Corp DE lifted its position in shares of Astec Industries by 24.1% in the 4th quarter. Bank of America Corp DE now owns 40,575 shares of the industrial products company's stock valued at $2,810,000 after acquiring an additional 7,891 shares in the last quarter. Barclays PLC lifted its position in shares of Astec Industries by 64.7% in the 4th quarter. Barclays PLC now owns 43,896 shares of the industrial products company's stock valued at $3,041,000 after acquiring an additional 17,236 shares in the last quarter. IndexIQ Advisors LLC lifted its position in shares of Astec Industries by 66.0% in the 1st quarter. IndexIQ Advisors LLC now owns 9,292 shares of the industrial products company's stock valued at $400,000 after acquiring an additional 3,693 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new stake in shares of Astec Industries in the 4th quarter valued at approximately $104,000. 95.14% of the stock is currently owned by institutional investors.
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Analyst Ratings Changes
Separately, StockNews.com downgraded shares of Astec Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 13th.
Astec Industries Stock Up 0.7 %
ASTE stock opened at $38.61 on Wednesday. Astec Industries, Inc. has a 12-month low of $36.31 and a 12-month high of $75.00. The company has a market cap of $882.82 million, a price-to-earnings ratio of 1,930.50 and a beta of 1.35. The company has a 50 day moving average of $42.92 and a two-hundred day moving average of $43.83.
Astec Industries (NASDAQ:ASTE – Get Rating) last released 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 company had revenue of $318.20 million during the quarter, compared to analysts' expectations of $308.70 million. During the same quarter in the previous year, the company earned $0.49 EPS. The firm's quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts anticipate that Astec Industries, Inc. will post 1.38 EPS for the current year.
Astec Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Friday, August 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.24%. Astec Industries's dividend payout ratio (DPR) is 2,400.00%.
About Astec Industries
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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.
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