Skylands Capital LLC Cuts Stake in Astec Industries, Inc. (NASDAQ:ASTE)

Skylands Capital LLC lessened its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 28.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,800 shares of the industrial products company’s stock after selling 5,865 shares during the quarter. Skylands Capital LLC owned approximately 0.06% of Astec Industries worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASTE. Tompkins Financial Corp bought a new position in Astec Industries during the fourth quarter valued at approximately $34,000. R Squared Ltd purchased a new stake in shares of Astec Industries during the 4th quarter worth approximately $42,000. Point72 Asset Management L.P. bought a new position in shares of Astec Industries during the 3rd quarter valued at approximately $45,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Astec Industries in the third quarter valued at $49,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Astec Industries in the third quarter worth $64,000. Institutional investors own 93.16% of the company’s stock.

Analyst Ratings Changes

ASTE has been the subject of several research reports. StockNews.com lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Robert W. Baird increased their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Stock Performance

Shares of ASTE opened at $30.40 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a 50-day moving average of $33.50 and a 200 day moving average of $33.65.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.71%. Astec Industries’s payout ratio is -649.92%.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. 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.