Morgan Dempsey Capital Management LLC decreased its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,253 shares of the industrial products company’s stock after selling 914 shares during the quarter. Morgan Dempsey Capital Management LLC owned about 0.08% of Astec Industries worth $594,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in ASTE. Gamco Investors INC. ET AL grew its stake in shares of Astec Industries by 9.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,350,011 shares of the industrial products company’s stock worth $43,956,000 after acquiring an additional 122,125 shares during the last quarter. Investment Counselors of Maryland LLC increased its position in shares of Astec Industries by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 494,133 shares of the industrial products company’s stock worth $16,089,000 after acquiring an additional 5,435 shares during the period. Teton Advisors Inc. increased its position in shares of Astec Industries by 7.6% during the second quarter. Teton Advisors Inc. now owns 330,600 shares of the industrial products company’s stock worth $10,764,000 after acquiring an additional 23,400 shares during the period. Norges Bank purchased a new stake in shares of Astec Industries during the fourth quarter worth $8,478,000. Finally, John G Ullman & Associates Inc. increased its position in shares of Astec Industries by 73.2% during the first quarter. John G Ullman & Associates Inc. now owns 129,200 shares of the industrial products company’s stock worth $4,878,000 after acquiring an additional 54,600 shares during the period. 92.56% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on ASTE shares. ValuEngine raised Astec Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. BidaskClub lowered Astec Industries from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.00.
Shares of ASTE traded up $0.89 during midday trading on Thursday, hitting $27.76. The company had a trading volume of 1,228 shares, compared to its average volume of 118,484. The company has a quick ratio of 1.13, a current ratio of 3.21 and a debt-to-equity ratio of 0.05. Astec Industries, Inc. has a 52 week low of $26.20 and a 52 week high of $52.88. The company’s 50 day moving average price is $30.15 and its 200 day moving average price is $33.87. The stock has a market cap of $606.86 million, a price-to-earnings ratio of 9.46 and a beta of 1.44.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The company had revenue of $304.80 million during the quarter, compared to analyst estimates of $299.96 million. Astec Industries had a positive return on equity of 7.07% and a negative net margin of 0.20%. The company’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. Equities analysts anticipate that Astec Industries, Inc. will post 2.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, August 9th. Astec Industries’s dividend payout ratio is 15.07%.
In other Astec Industries news, insider Jaco Van Der Merwe acquired 2,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was bought at an average price of $28.00 per share, for a total transaction of $56,000.00. Following the purchase, the insider now owns 6,579 shares in the company, valued at approximately $184,212. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.
Astec Industries Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
Further Reading: Percentage Gainers
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