Connor Clark & Lunn Investment Management Ltd. Purchases 32,546 Shares of Astec Industries, Inc. $ASTE

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 80.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,250 shares of the industrial products company’s stock after acquiring an additional 32,546 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.32% of Astec Industries worth $3,054,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Astec Industries by 98.8% during the first quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company’s stock worth $12,450,000 after purchasing an additional 179,618 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Astec Industries by 22.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 819,913 shares of the industrial products company’s stock valued at $28,247,000 after buying an additional 150,634 shares during the last quarter. Nuveen LLC acquired a new stake in Astec Industries in the first quarter worth about $4,419,000. Millennium Management LLC grew its stake in shares of Astec Industries by 188.2% during the first quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock worth $5,111,000 after acquiring an additional 96,883 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Astec Industries during the first quarter valued at about $2,924,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zacks Research raised shares of Astec Industries to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Astec Industries in a research report on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Astec Industries currently has an average rating of “Hold” and a consensus price target of $41.00.

Insiders Place Their Bets

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

Astec Industries Stock Performance

Shares of ASTE stock opened at $43.72 on Friday. The stock has a market cap of $1.00 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42. Astec Industries, Inc. has a 52-week low of $29.65 and a 52-week high of $50.83. The business has a 50-day simple moving average of $46.89 and a 200-day simple moving average of $43.20. The company has a quick ratio of 1.08, a current ratio of 2.71 and a debt-to-equity ratio of 0.13.

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

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, November 10th. Astec Industries’s dividend payout ratio (DPR) is currently 25.00%.

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.