Posted by admin on Aug 6th, 2022
Shell Asset Management Co. reduced its holdings in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,600 shares of the industrial products company’s stock after selling 1,125 shares during the quarter. Shell Asset Management Co.’s holdings in Astec Industries were worth $327,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in ASTE. Allspring Global Investments Holdings LLC bought a new position in shares of Astec Industries during the 4th quarter valued at about $527,000. Yousif Capital Management LLC bought a new position in shares of Astec Industries during the 4th quarter valued at about $1,433,000. CWM LLC bought a new position in Astec Industries during the 4th quarter worth approximately $1,774,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Astec Industries by 122.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company’s stock worth $260,000 after acquiring an additional 2,070 shares during the last quarter. Finally, Redwood Investments LLC grew its position in Astec Industries by 57.4% during the 4th quarter. Redwood Investments LLC now owns 451,062 shares of the industrial products company’s stock worth $31,245,000 after acquiring an additional 164,408 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors.
ASTE has been the subject of several research analyst reports. Robert W. Baird cut Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price objective for the company. in a report on Friday, April 8th. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, May 13th.
Shares of ASTE opened at $42.32 on Friday. Astec Industries, Inc. has a one year low of $36.31 and a one year high of $75.00. The firm has a market capitalization of $966.67 million, a P/E ratio of 2,116.00 and a beta of 1.35. The business has a fifty day moving average of $44.02 and a 200 day moving average of $46.29.
Astec Industries (NASDAQ:ASTE – Get Rating) last released 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 company had revenue of $318.20 million for the quarter, compared to analysts’ expectations of $308.70 million. Astec Industries had a net margin of 0.03% and a return on equity of 3.72%. Astec Industries’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. Analysts expect that Astec Industries, Inc. will post 1.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Investors of record on Friday, August 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.48 annualized dividend and a yield of 1.13%. Astec Industries’s dividend payout ratio (DPR) is presently 2,400.00%.
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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