Astec Industries, Inc. (NASDAQ:ASTE) Shares Acquired by US Bancorp DE

US Bancorp DE increased its position in Astec Industries, Inc. (NASDAQ:ASTEGet Rating) by 182.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,143 shares of the industrial products company’s stock after purchasing an additional 1,385 shares during the quarter. US Bancorp DE’s holdings in Astec Industries were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ASTE. Russell Investments Group Ltd. boosted its position in Astec Industries by 1,264.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 269,871 shares of the industrial products company’s stock valued at $11,002,000 after buying an additional 250,095 shares during the last quarter. Arizona State Retirement System increased its holdings in Astec Industries by 5.5% during the 2nd quarter. Arizona State Retirement System now owns 6,169 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 323 shares during the last quarter. CWM LLC raised its position in shares of Astec Industries by 7.0% in the 2nd quarter. CWM LLC now owns 41,023 shares of the industrial products company’s stock valued at $1,673,000 after purchasing an additional 2,680 shares in the last quarter. KBC Group NV purchased a new position in shares of Astec Industries during the 2nd quarter valued at approximately $77,000. Finally, Strs Ohio grew its position in shares of Astec Industries by 6.0% during the second quarter. Strs Ohio now owns 15,900 shares of the industrial products company’s stock worth $648,000 after buying an additional 900 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Astec Industries in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

Astec Industries Stock Down 6.0 %

Shares of Astec Industries stock opened at $41.53 on Thursday. The business has a 50-day moving average price of $36.86 and a 200 day moving average price of $40.99. Astec Industries, Inc. has a fifty-two week low of $31.04 and a fifty-two week high of $72.98. The firm has a market cap of $943.23 million, a P/E ratio of -115.36 and a beta of 1.56.

Astec Industries (NASDAQ:ASTEGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The firm had revenue of $315.20 million during the quarter, compared to the consensus estimate of $301.93 million. Astec Industries had a negative net margin of 0.70% and a positive return on equity of 3.01%. Astec Industries’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, equities research analysts anticipate that Astec Industries, Inc. will post 1.35 earnings per share for the current year.

Astec Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Monday, November 14th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This is a positive change from Astec Industries’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.25%. Astec Industries’s payout ratio is -133.33%.

About Astec Industries

(Get Rating)

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.

See Also

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

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