Voya Investment Management LLC Reduces Position in Astec Industries, Inc. $ASTE

Voya Investment Management LLC lessened its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 9.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,598 shares of the industrial products company’s stock after selling 665 shares during the quarter. Voya Investment Management LLC’s holdings in Astec Industries were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in Astec Industries by 2.9% during the 1st quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock worth $1,604,000 after buying an additional 1,305 shares during the last quarter. SageView Advisory Group LLC grew its stake in Astec Industries by 32.4% during the 1st quarter. SageView Advisory Group LLC now owns 12,393 shares of the industrial products company’s stock worth $427,000 after buying an additional 3,036 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Astec Industries by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock worth $2,259,000 after buying an additional 1,358 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Astec Industries during the 1st quarter worth approximately $979,000. Finally, Millennium Management LLC grew its stake in shares of Astec Industries by 188.2% in the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock valued at $5,111,000 after purchasing an additional 96,883 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Trading Up 0.4%

NASDAQ:ASTE opened at $47.93 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of 24.09 and a beta of 1.39. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $44.64 and its 200-day simple moving average is $40.33. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $49.06.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.28. The business had revenue of $330.30 million for the quarter, compared to analyst estimates of $361.00 million. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.1%. Astec Industries’s payout ratio is presently 26.13%.

Insider Activity

In other news, insider Barend Snyman sold 2,498 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total value of $117,955.56. Following the transaction, the insider owned 15,559 shares of the company’s stock, valued at approximately $734,695.98. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

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.