Envestnet Asset Management Inc. Acquires 5,689 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Envestnet Asset Management Inc. increased its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 73.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,422 shares of the industrial products company’s stock after buying an additional 5,689 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Astec Industries worth $462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Astec Industries by 2.7% during the first quarter. Principal Financial Group Inc. now owns 113,556 shares of the industrial products company’s stock valued at $3,912,000 after acquiring an additional 2,983 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Astec Industries by 4.9% in the 1st quarter. Peregrine Capital Management LLC now owns 138,958 shares of the industrial products company’s stock worth $4,787,000 after purchasing an additional 6,448 shares in the last quarter. Byrne Asset Management LLC increased its position in Astec Industries by 66.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company’s stock valued at $40,000 after buying an additional 465 shares in the last quarter. GAMMA Investing LLC raised its stake in Astec Industries by 3,771.4% in the first quarter. GAMMA Investing LLC now owns 43,786 shares of the industrial products company’s stock valued at $15,080,000 after buying an additional 42,655 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Astec Industries by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,219 shares of the industrial products company’s stock worth $2,158,000 after acquiring an additional 3,963 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Astec Industries Trading Down 2.5%

NASDAQ ASTE opened at $39.38 on Thursday. Astec Industries, Inc. has a 12-month low of $29.04 and a 12-month high of $43.76. The company has a fifty day simple moving average of $40.09 and a two-hundred day simple moving average of $37.12. The company has a current ratio of 2.66, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15. The stock has a market cap of $900.62 million, a P/E ratio of 59.67 and a beta of 1.43.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.3%. Astec Industries’s payout ratio is currently 78.79%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, May 9th.

Astec Industries Company Profile

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.