Posted by admin on Aug 8th, 2022
Royce & Associates LP lowered its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,835 shares of the industrial products company’s stock after selling 963 shares during the quarter. Royce & Associates LP’s holdings in Astec Industries were worth $208,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Astec Industries during the first quarter worth about $179,000. Bank of America Corp DE raised its position in shares of Astec Industries by 24.1% during the fourth quarter. Bank of America Corp DE now owns 40,575 shares of the industrial products company’s stock worth $2,810,000 after purchasing an additional 7,891 shares during the period. Barclays PLC raised its position in shares of Astec Industries by 64.7% during the fourth quarter. Barclays PLC now owns 43,896 shares of the industrial products company’s stock worth $3,041,000 after purchasing an additional 17,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Astec Industries by 122.7% during 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 period. Finally, Pinebridge Investments L.P. bought a new position in shares of Astec Industries during the fourth quarter worth about $104,000. Institutional investors and hedge funds own 94.52% of the company’s stock.
NASDAQ:ASTE opened at $42.32 on Monday. The company has a market cap of $966.67 million, a PE ratio of 2,116.00 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 stock has a 50-day simple moving average of $44.02 and a 200 day simple moving average of $46.01.
Astec Industries (NASDAQ:ASTE – Get Rating) last posted its quarterly earnings data 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). The firm had revenue of $318.20 million for the quarter, compared to the consensus estimate of $308.70 million. Astec Industries had a return on equity of 3.72% and a net margin of 0.03%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, research analysts predict that Astec Industries, Inc. will post 1.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Friday, August 12th will be paid a $0.12 dividend. The ex-dividend date is Thursday, August 11th. This represents a $0.48 dividend on an annualized basis and a yield of 1.13%. Astec Industries’s dividend payout ratio is 2,400.00%.
Separately, StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, May 13th.
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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