Astec Industries, Inc. $ASTE Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,612 shares of the industrial products company’s stock after acquiring an additional 977 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Astec Industries worth $567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tompkins Financial Corp increased its stake in shares of Astec Industries by 30.0% in the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 300 shares during the period. US Bancorp DE increased its stake in shares of Astec Industries by 4.1% in the first quarter. US Bancorp DE now owns 8,326 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 327 shares during the period. Byrne Asset Management LLC increased its stake in shares of Astec Industries by 66.4% during the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 465 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of Astec Industries during the first quarter valued at approximately $36,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Astec Industries by 20.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,223 shares of the industrial products company’s stock valued at $249,000 after acquiring an additional 1,227 shares during the period. Institutional investors and hedge funds own 93.16% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Wednesday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

Astec Industries Trading Up 1.4%

Astec Industries stock opened at $48.16 on Thursday. The company has a 50 day moving average price of $45.83 and a 200 day moving average price of $40.85. Astec Industries, Inc. has a 52 week low of $29.65 and a 52 week high of $50.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 2.31 and a beta of 1.43.

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

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were paid a dividend of $0.13 per share. 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 dividend payout ratio (DPR) is 26.13%.

Insider Activity

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of Astec Industries stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $47.22, for a total transaction of $117,955.56. Following the completion of the sale, the insider owned 15,559 shares of the company’s stock, valued at $734,695.98. This trade represents a 13.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by company insiders.

Astec Industries 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.