Astec Industries, Inc. (ASTE) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 714,242 shares of the industrial products company’s stock after selling 62,172 shares during the quarter. Franklin Resources Inc. owned about 3.10% of Astec Industries worth $39,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASTE. BlackRock Inc. boosted its position in Astec Industries by 69,549.4% during the first quarter. BlackRock Inc. now owns 2,317,931 shares of the industrial products company’s stock valued at $142,543,000 after acquiring an additional 2,314,603 shares during the last quarter. Vanguard Group Inc. boosted its position in Astec Industries by 6.5% during the first quarter. Vanguard Group Inc. now owns 1,807,106 shares of the industrial products company’s stock valued at $111,128,000 after acquiring an additional 109,609 shares during the last quarter. Royce & Associates LP boosted its position in Astec Industries by 51.4% during the second quarter. Royce & Associates LP now owns 246,163 shares of the industrial products company’s stock valued at $13,665,000 after acquiring an additional 83,601 shares during the last quarter. First Trust Advisors LP boosted its position in Astec Industries by 266.8% during the second quarter. First Trust Advisors LP now owns 106,889 shares of the industrial products company’s stock valued at $5,933,000 after acquiring an additional 77,748 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Astec Industries by 1,217.7% during the first quarter. American Century Companies Inc. now owns 73,870 shares of the industrial products company’s stock valued at $4,543,000 after acquiring an additional 68,264 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries, Inc. (ASTE) opened at 51.15 on Friday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 24.35 and a beta of 1.10. Astec Industries, Inc. has a one year low of $45.70 and a one year high of $73.37. The stock’s 50 day moving average is $48.12 and its 200 day moving average is $56.13.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.18). The company had revenue of $301.90 million for the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. On average, analysts predict that Astec Industries, Inc. will post $2.50 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Friday, August 11th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Wednesday, August 9th. Astec Industries’s payout ratio is 19.05%.

TRADEMARK VIOLATION WARNING: “Astec Industries, Inc. (ASTE) Shares Sold by Franklin Resources Inc.” was originally published by Transcript Daily and is the property of of Transcript Daily. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/09/17/astec-industries-inc-aste-shares-sold-by-franklin-resources-inc.html.

Several equities analysts have recently weighed in on ASTE shares. BidaskClub lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st. Dougherty & Co lowered shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a report on Wednesday, July 26th.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries, Inc. (NASDAQ:ASTE).

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

Receive News & Ratings for Astec Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply