Astec Industries, Inc. (NASDAQ:ASTE) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Astec Industries, Inc. (NASDAQ:ASTEGet Rating) by 34.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,856 shares of the industrial products company’s stock after selling 10,968 shares during the period. SG Americas Securities LLC’s holdings in Astec Industries were worth $897,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC lifted its stake in Astec Industries by 96.1% during the first quarter. Byrne Asset Management LLC now owns 1,047 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 513 shares in the last quarter. Pinebridge Investments L.P. acquired a new stake in shares of Astec Industries in the fourth quarter valued at $104,000. Rhumbline Advisers raised its stake in shares of Astec Industries by 3.0% in the fourth quarter. Rhumbline Advisers now owns 66,911 shares of the industrial products company’s stock valued at $4,635,000 after acquiring an additional 1,922 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Astec Industries by 122.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Astec Industries in the fourth quarter valued at $226,000. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Performance

Shares of ASTE stock opened at $49.13 on Monday. The stock’s 50-day moving average is $44.25 and its two-hundred day moving average is $46.92. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 84.71 and a beta of 1.29. Astec Industries, Inc. has a 1 year low of $36.31 and a 1 year high of $75.00.

Astec Industries (NASDAQ:ASTEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.24. Astec Industries had a return on equity of 4.74% and a net margin of 1.20%. The company had revenue of $291.20 million for the quarter, compared to analyst estimates of $286.56 million. During the same quarter last year, the company posted $0.41 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that Astec Industries, Inc. will post 1.88 EPS for the current year.

Astec Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were given a $0.12 dividend. The ex-dividend date was Thursday, May 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. Astec Industries’s payout ratio is currently 82.76%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Robert W. Baird cut Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 price objective on the stock. in a research note on Friday, April 8th. lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, May 13th.

Astec Industries Company Profile

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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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Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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