Posted by admin on Aug 18th, 2022

Texas Permanent School Fund cut its stake in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,139 shares of the industrial products company’s stock after selling 346 shares during the period. Texas Permanent School Fund owned 0.07% of Astec Industries worth $694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IndexIQ Advisors LLC lifted its holdings in shares of Astec Industries by 66.0% during the first quarter. IndexIQ Advisors LLC now owns 9,292 shares of the industrial products company’s stock valued at $400,000 after purchasing an additional 3,693 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Astec Industries during the first quarter valued at approximately $848,000. Nisa Investment Advisors LLC purchased a new position in shares of Astec Industries during the first quarter valued at approximately $179,000. Assenagon Asset Management S.A. purchased a new position in shares of Astec Industries during the first quarter valued at approximately $1,348,000. Finally, CWM LLC lifted its holdings in shares of Astec Industries by 49.8% during the first quarter. CWM LLC now owns 38,343 shares of the industrial products company’s stock valued at $1,649,000 after purchasing an additional 12,739 shares during the last quarter. 94.52% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ ASTE opened at $44.51 on Thursday. Astec Industries, Inc. has a twelve month low of $36.31 and a twelve month high of $75.00. The firm has a market cap of $1.02 billion, a P/E ratio of 2,225.50 and a beta of 1.35. The company has a 50 day moving average of $43.45 and a 200 day moving average of $45.13.

Astec Industries (NASDAQ:ASTE – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $0.19 earnings per share 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 analysts’ expectations of $308.70 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Astec Industries’s revenue was up 14.6% on a year-over-year basis. As a group, equities analysts expect that Astec Industries, Inc. will post 1.54 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Friday, August 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, August 11th. Astec Industries’s dividend payout ratio (DPR) is presently 2,400.00%.

Separately, StockNews.com lowered shares of 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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