Algert Global LLC Takes Position in Astec Industries, Inc. $ASTE

Algert Global LLC acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 84,874 shares of the industrial products company’s stock, valued at approximately $2,924,000.

Several other large investors also recently made changes to their positions in ASTE. American Century Companies Inc. boosted its position in shares of Astec Industries by 98.8% during the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company’s stock valued at $12,450,000 after purchasing an additional 179,618 shares in the last quarter. Nuveen LLC bought a new position in shares of Astec Industries during the 1st quarter valued at about $4,419,000. Heartland Advisors Inc. boosted its position in shares of Astec Industries by 27.1% during the 1st quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company’s stock valued at $8,089,000 after purchasing an additional 50,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Astec Industries in the fourth quarter worth about $1,552,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Astec Industries by 691.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 48,851 shares of the industrial products company’s stock worth $1,641,000 after buying an additional 42,682 shares during the period. Institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Performance

Shares of ASTE opened at $44.09 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 22.16 and a beta of 1.43. The company has a 50-day moving average of $41.00 and a two-hundred day moving average of $37.77. Astec Industries, Inc. has a one year low of $29.04 and a one year high of $46.64.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.60 by $0.28. The business had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $361.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 11th. Astec Industries’s dividend payout ratio (DPR) is currently 26.13%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Astec Industries presently has an average rating of “Hold” and an average target price of $41.00.

Astec Industries 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.