Brandywine Global Investment Management LLC Sells 3,000 Shares of Astec Industries, Inc. $ASTE

Brandywine Global Investment Management LLC trimmed its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,970 shares of the industrial products company’s stock after selling 3,000 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.35% of Astec Industries worth $3,292,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Astec Industries by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock valued at $662,000 after buying an additional 274 shares during the period. Tompkins Financial Corp increased its position in Astec Industries by 30.0% during the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 300 shares during the last quarter. US Bancorp DE lifted its holdings in 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 acquiring an additional 327 shares during the period. FNY Investment Advisers LLC purchased a new position in Astec Industries in the second quarter worth about $27,000. Finally, State of Alaska Department of Revenue boosted its position in Astec Industries by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock worth $567,000 after purchasing an additional 977 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ASTE shares. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction 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 trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.69% of the stock is currently owned by corporate insiders.

Astec Industries Trading Up 1.5%

Shares of NASDAQ:ASTE opened at $42.44 on Tuesday. The stock has a 50 day moving average of $46.26 and a 200 day moving average of $43.44. The company has a market cap of $970.86 million, a PE ratio of 21.33, a price-to-earnings-growth ratio of 2.32 and a beta of 1.42. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $50.83. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The business had revenue of $350.10 million for the quarter, compared to the consensus estimate of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.52 annualized dividend and a yield of 1.2%. Astec Industries’s dividend payout ratio is currently 25.00%.

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.