Russell Investments Group Ltd. purchased a new stake in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,776 shares of the industrial products company’s stock, valued at approximately $848,000. Russell Investments Group Ltd. owned about 0.09% of Astec Industries as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new stake in Astec Industries in the fourth quarter valued at about $37,000. Pinebridge Investments L.P. purchased a new position in shares of Astec Industries in the fourth quarter worth about $104,000. Envestnet Asset Management Inc. purchased a new position in shares of Astec Industries in the fourth quarter worth about $226,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Astec Industries by 122.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 2,070 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Astec Industries in the fourth quarter worth about $286,000. 94.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, May 13th.
Astec Industries Stock Down 1.9 %
Astec Industries stock opened at $42.74 on Friday. The firm has a market cap of $977.04 million, a price-to-earnings ratio of 2,137.00 and a beta of 1.35. Astec Industries, Inc. has a 52 week low of $36.31 and a 52 week high of $75.00. The business’s 50-day moving average price is $43.33 and its 200 day moving average price is $44.72.
Astec Industries (NASDAQ:ASTE – Get Rating) last issued its quarterly 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 firm had revenue of $318.20 million during the quarter, compared to analyst estimates of $308.70 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. Equities analysts expect that Astec Industries, Inc. will post 1.38 EPS for the current year.
Astec Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Friday, August 12th will be issued a $0.12 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.12%. Astec Industries’s dividend payout ratio is presently 2,400.00%.
Astec Industries Company Profile
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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