Gabelli Funds LLC Grows Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

Gabelli Funds LLC boosted its position in Astec Industries, Inc. (NASDAQ:ASTEGet Rating) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 515,100 shares of the industrial products company’s stock after buying an additional 400 shares during the quarter. Gabelli Funds LLC owned approximately 2.26% of Astec Industries worth $22,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ASTE. Byrne Asset Management LLC purchased a new stake in Astec Industries in the fourth quarter worth $37,000. Lazard Asset Management LLC purchased a new stake in Astec Industries in the first quarter worth $51,000. Pinebridge Investments L.P. purchased a new stake in Astec Industries in the fourth quarter worth $104,000. Captrust Financial Advisors increased its position in Astec Industries by 31.2% in the first quarter. Captrust Financial Advisors now owns 2,639 shares of the industrial products company’s stock worth $113,000 after buying an additional 628 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in Astec Industries in the first quarter worth $179,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Price Performance

NASDAQ:ASTE opened at $37.48 on Wednesday. The company has a market capitalization of $856.98 million, a P/E ratio of 1,874.00 and a beta of 1.40. Astec Industries, Inc. has a 1 year low of $36.31 and a 1 year high of $75.00. The business has a fifty day simple moving average of $42.25 and a two-hundred day simple moving average of $42.85.

Astec Industries (NASDAQ:ASTEGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.33). The company had revenue of $318.20 million during the quarter, compared to analysts’ expectations of $308.70 million. Astec Industries had a net margin of 0.03% and a return on equity of 3.72%. Astec Industries’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, analysts anticipate that Astec Industries, Inc. will post 1.38 earnings per share for the current year.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Friday, August 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Thursday, August 11th. Astec Industries’s dividend payout ratio (DPR) is presently 2,400.00%.

Astec Industries 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.

Further Reading

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

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