Posted by admin on Jul 22nd, 2022
Keybank National Association OH decreased its position in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 46.4% during the 1st quarter, Holdings Channel reports. The fund owned 8,676 shares of the industrial products company’s stock after selling 7,504 shares during the quarter. Keybank National Association OH’s holdings in Astec Industries were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Astec Industries by 24.1% in the fourth quarter. Bank of America Corp DE now owns 40,575 shares of the industrial products company’s stock valued at $2,810,000 after acquiring an additional 7,891 shares in the last quarter. Barclays PLC boosted its holdings in Astec Industries by 64.7% during the fourth quarter. Barclays PLC now owns 43,896 shares of the industrial products company’s stock worth $3,041,000 after buying an additional 17,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Astec Industries by 122.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company’s stock worth $260,000 after buying an additional 2,070 shares in the last quarter. Pinebridge Investments L.P. purchased a new stake in Astec Industries during the fourth quarter worth about $104,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Astec Industries during the fourth quarter worth about $219,000. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of ASTE opened at $45.79 on Friday. The stock has a market cap of $1.05 billion, a P/E ratio of 78.95 and a beta of 1.29. The company has a 50-day moving average of $44.01 and a two-hundred day moving average of $48.26. Astec Industries, Inc. has a 12-month low of $36.31 and a 12-month high of $75.00.
Astec Industries (NASDAQ:ASTE – Get Rating) last announced its earnings results on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.24. The company had revenue of $291.20 million during the quarter, compared to analysts’ expectations of $286.56 million. Astec Industries had a net margin of 1.20% and a return on equity of 4.74%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. As a group, analysts forecast that Astec Industries, Inc. will post 1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 12th. Astec Industries’s payout ratio is currently 82.76%.
ASTE has been the topic of a number of research analyst reports. Robert W. Baird downgraded shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a report on Friday, April 8th. StockNews.com downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, May 13th.
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.
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