Comerica Bank lessened its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,332 shares of the industrial products company’s stock after selling 1,336 shares during the period. Comerica Bank owned approximately 0.09% of Astec Industries worth $672,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in Astec Industries by 59.8% during the 4th quarter. Bank of America Corp DE now owns 27,652 shares of the industrial products company’s stock worth $834,000 after acquiring an additional 10,346 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Astec Industries by 361.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,198 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 4,071 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Astec Industries in the 1st quarter valued at about $258,000. Quantamental Technologies LLC increased its holdings in shares of Astec Industries by 40.6% in the 1st quarter. Quantamental Technologies LLC now owns 2,734 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 790 shares during the last quarter. Finally, Texas Permanent School Fund increased its holdings in shares of Astec Industries by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 15,479 shares of the industrial products company’s stock valued at $584,000 after acquiring an additional 560 shares during the last quarter. 92.98% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:ASTE traded up $0.42 during mid-day trading on Friday, reaching $32.45. 12,498 shares of the stock were exchanged, compared to its average volume of 111,569. The company has a 50 day simple moving average of $29.41 and a 200-day simple moving average of $33.22. The stock has a market capitalization of $696.77 million, a P/E ratio of 11.12 and a beta of 1.47. The company has a quick ratio of 1.13, a current ratio of 3.21 and a debt-to-equity ratio of 0.05. Astec Industries, Inc. has a 1 year low of $26.20 and a 1 year high of $52.88.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.05). The business had revenue of $304.80 million during the quarter, compared to analyst estimates of $299.96 million. Astec Industries had a negative net margin of 0.20% and a positive return on equity of 7.07%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. As a group, research analysts predict that Astec Industries, Inc. will post 2.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a $0.11 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.36%. Astec Industries’s dividend payout ratio is currently 15.07%.
In related news, VP Stephen C. Anderson purchased 2,200 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was bought at an average price of $27.75 per share, with a total value of $61,050.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jaco Van Der Merwe acquired 2,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $28.00 per share, with a total value of $56,000.00. Following the transaction, the insider now owns 6,579 shares of the company’s stock, valued at $184,212. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.
A number of research firms have recently commented on ASTE. ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, July 27th. BidaskClub upgraded Astec Industries from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $41.00.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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