Swiss National Bank increased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,200 shares of the industrial products company's stock after purchasing an additional 3,500 shares during the quarter. Swiss National Bank owned approximately 0.22% of Astec Industries worth $2,202,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new stake in shares of Astec Industries in the fourth quarter valued at about $37,000. Pinebridge Investments L.P. acquired a new position in Astec Industries during the fourth quarter worth about $104,000. Envestnet Asset Management Inc. purchased a new stake in Astec Industries during the 4th quarter valued at about $226,000. Teacher Retirement System of Texas acquired a new stake in Astec Industries in the 4th quarter valued at about $286,000. Finally, Nisa Investment Advisors LLC purchased a new position in Astec Industries in the 1st quarter worth approximately $179,000. 95.14% of the stock is owned by institutional investors and hedge funds.
Get Astec Industries alerts:Analyst Ratings Changes
Separately, StockNews.com cut Astec Industries from a "buy" rating to a "hold" rating in a report on Friday, May 13th.
Astec Industries Trading Down 1.1 %
Shares of ASTE stock opened at $38.18 on Thursday. Astec Industries, Inc. has a twelve month low of $36.31 and a twelve month high of $75.00. The company's 50-day moving average price is $42.85 and its 200-day moving average price is $43.79. The stock has a market cap of $872.99 million, a price-to-earnings ratio of 1,909.00 and a beta of 1.35.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 for the quarter, missing the consensus estimate of $0.52 by ($0.33). The firm had revenue of $318.20 million during the quarter, compared to analyst estimates of $308.70 million. Astec Industries had a net margin of 0.03% and a return on equity of 3.72%. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, equities research analysts predict that Astec Industries, Inc. will post 1.38 EPS for the current year.
Astec Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 29th. Shareholders of record on Friday, August 12th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.48 annualized dividend and a yield of 1.26%. Astec Industries's dividend payout ratio (DPR) is 2,400.00%.
Astec Industries 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.
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