State of Alaska Department of Revenue Reduces Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

State of Alaska Department of Revenue lowered its position in Astec Industries, Inc. (NASDAQ:ASTEGet Rating) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,830 shares of the industrial products company’s stock after selling 1,447 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Astec Industries worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Astec Industries in the first quarter valued at approximately $51,000. KBC Group NV purchased a new stake in Astec Industries in the second quarter valued at approximately $77,000. US Bancorp DE boosted its position in Astec Industries by 182.7% in the second quarter. US Bancorp DE now owns 2,143 shares of the industrial products company’s stock valued at $87,000 after buying an additional 1,385 shares during the last quarter. Captrust Financial Advisors boosted 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 valued at $113,000 after buying an additional 628 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Astec Industries by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 3,836 shares of the industrial products company’s stock valued at $156,000 after buying an additional 555 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Astec Industries Trading Up 0.8 %

Astec Industries stock opened at $38.85 on Friday. Astec Industries, Inc. has a 12 month low of $31.04 and a 12 month high of $71.88. The stock’s 50 day simple moving average is $41.98 and its two-hundred day simple moving average is $40.46. The firm has a market cap of $882.36 million, a PE ratio of -107.91 and a beta of 1.53.

Astec Industries (NASDAQ:ASTEGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The industrial products company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). Astec Industries had a positive return on equity of 3.01% and a negative net margin of 0.70%. The company had revenue of $315.20 million during the quarter, compared to analysts’ expectations of $301.93 million. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Astec Industries, Inc. will post 1.31 EPS for the current year.

Astec Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Monday, November 14th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.34%. This is an increase from Astec Industries’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, November 10th. Astec Industries’s dividend payout ratio is presently -144.44%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Astec Industries in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

About Astec Industries

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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.

See Also

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

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