Y Intercept Hong Kong Ltd Buys Shares of 31,985 Astec Industries, Inc. $ASTE

Y Intercept Hong Kong Ltd acquired a new position in Astec Industries, Inc. (NASDAQ:ASTE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,985 shares of the industrial products company’s stock, valued at approximately $1,333,000. Y Intercept Hong Kong Ltd owned about 0.14% of Astec Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Astec Industries by 22.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 819,913 shares of the industrial products company’s stock worth $28,247,000 after acquiring an additional 150,634 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Astec Industries by 98.8% in the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company’s stock worth $12,450,000 after acquiring an additional 179,618 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Astec Industries by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 282,394 shares of the industrial products company’s stock worth $9,728,000 after acquiring an additional 17,444 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Astec Industries by 27.1% in the 1st quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company’s stock worth $8,089,000 after acquiring an additional 50,000 shares during the last quarter. Finally, John G Ullman & Associates Inc. lifted its holdings in shares of Astec Industries by 14.6% in the 1st quarter. John G Ullman & Associates Inc. now owns 186,410 shares of the industrial products company’s stock worth $6,422,000 after acquiring an additional 23,718 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ASTE shares. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Astec Industries in a research note on Thursday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.00.

Astec Industries Stock Down 0.5%

Shares of Astec Industries stock opened at $46.53 on Monday. 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 company’s fifty day simple moving average is $47.17 and its two-hundred day simple moving average is $42.57. The company has a market cap of $1.06 billion, a P/E ratio of 23.38, a PEG ratio of 2.32 and a beta of 1.43. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $50.83.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data 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 the consensus estimate of $361.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 10th. Astec Industries’s payout ratio is presently 26.13%.

Insider Transactions at Astec Industries

In other news, insider Barend Snyman sold 2,498 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $47.22, for a total value of $117,955.56. Following the sale, the insider directly owned 15,559 shares of the company’s stock, valued at $734,695.98. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.