Teacher Retirement System of Texas Invests $204,000 in Astec Industries, Inc. $ASTE

Teacher Retirement System of Texas purchased a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,902 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other hedge funds also recently added to or reduced their stakes in ASTE. FNY Investment Advisers LLC purchased a new stake in Astec Industries in the second quarter valued at $27,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Astec Industries during the 1st quarter worth about $36,000. Tompkins Financial Corp raised its holdings in Astec Industries by 30.0% in the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after buying an additional 300 shares during the period. CWM LLC lifted its position in Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company’s stock valued at $86,000 after buying an additional 1,802 shares during the last quarter. Finally, AM Investment Strategies LLC acquired a new position in Astec Industries in the second quarter valued at about $221,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Stock Down 0.4%

Shares of ASTE opened at $44.46 on Thursday. The company’s 50-day simple moving average is $47.02 and its 200-day simple moving average is $43.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $50.83. The stock has a market capitalization of $1.02 billion, a PE ratio of 22.34, a P/E/G ratio of 2.32 and a beta of 1.42.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $350.10 million during the quarter, compared to analysts’ expectations of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Astec Industries’s dividend payout ratio is currently 25.00%.

Insider Activity

In related news, insider Barend Snyman sold 2,498 shares of Astec Industries stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total value of $117,955.56. Following the completion of the transaction, the insider directly owned 15,559 shares in the company, valued at approximately $734,695.98. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Astec Industries in a report on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.