Heartland Advisors Inc. bought a new position in Astec Industries, Inc. (NASDAQ:ASTE – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 241,590 shares of the industrial products company’s stock, valued at approximately $14,783,000.
A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Astec Industries during the second quarter valued at about $212,732,000. Bank of New York Mellon Corp purchased a new position in shares of Astec Industries in the 2nd quarter worth about $13,538,000. Millennium Management LLC boosted its holdings in shares of Astec Industries by 142.3% in the 4th quarter. Millennium Management LLC now owns 347,231 shares of the industrial products company’s stock worth $15,042,000 after purchasing an additional 203,911 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Astec Industries by 2,165.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 146,796 shares of the industrial products company’s stock valued at $8,982,000 after purchasing an additional 140,315 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Astec Industries by 184.2% during the 4th quarter. JPMorgan Chase & Co. now owns 191,498 shares of the industrial products company’s stock valued at $8,296,000 after purchasing an additional 124,111 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.
Astec Industries Stock Performance
Astec Industries stock opened at $43.55 on Friday. The firm has a fifty day simple moving average of $52.64 and a two-hundred day simple moving average of $54.33. The company has a quick ratio of 1.10, a current ratio of 2.52 and a debt-to-equity ratio of 0.53. Astec Industries, Inc. has a twelve month low of $40.47 and a twelve month high of $65.69. The company has a market capitalization of $1.00 billion, a PE ratio of 51.24, a P/E/G ratio of 1.13 and a beta of 1.36.
Astec Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, August 10th. This represents a $0.52 annualized dividend and a yield of 1.2%. Astec Industries’s dividend payout ratio is currently 61.18%.
Wall Street Analyst Weigh In
ASTE has been the subject of a number of recent research reports. Zacks Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.
Read Our Latest Stock Analysis on Astec Industries
Astec Industries Company Profile
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.
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