3,800 Shares in Astec Industries, Inc. (NASDAQ:ASTE) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,800 shares of the industrial products company’s stock, valued at approximately $128,000.

Several other large investors also recently modified their holdings of the stock. Tompkins Financial Corp bought a new position in shares of Astec Industries during the 4th quarter worth approximately $34,000. R Squared Ltd bought a new stake in Astec Industries during the 4th quarter worth about $42,000. Point72 Asset Management L.P. acquired a new position in Astec Industries during the 3rd quarter worth $45,000. Wilmington Savings Fund Society FSB bought a new stake in Astec Industries during the 3rd quarter worth about $49,000. Finally, Arizona State Retirement System acquired a new position in Astec Industries in the fourth quarter valued at approximately $211,000. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Stock Performance

ASTE opened at $33.26 on Thursday. The stock has a market cap of $758.46 million, a price-to-earnings ratio of -415.70 and a beta of 1.39. The business has a 50 day moving average of $34.20 and a 200-day moving average of $34.24. Astec Industries, Inc. has a 12-month low of $28.46 and a 12-month high of $44.03. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.46. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $359.00 million during the quarter, compared to analysts’ expectations of $374.10 million.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date was Monday, March 10th. Astec Industries’s dividend payout ratio is currently 273.68%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. StockNews.com upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. 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.