Squarepoint Ops LLC Reduces Position in Astec Industries, Inc. $ASTE

Squarepoint Ops LLC trimmed its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 58.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,503 shares of the industrial products company’s stock after selling 24,295 shares during the period. Squarepoint Ops LLC owned 0.08% of Astec Industries worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in Astec Industries by 7.7% in the 2nd 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Astec Industries by 2.0% in the second quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock valued at $24,109,000 after purchasing an additional 11,365 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Astec Industries by 8.3% during the second quarter. Advisors Asset Management Inc. now owns 122,749 shares of the industrial products company’s stock worth $5,117,000 after buying an additional 9,456 shares in the last quarter. XTX Topco Ltd acquired a new position in Astec Industries during the second quarter worth $1,374,000. Finally, American Century Companies Inc. grew its holdings in Astec Industries by 49.4% in the 2nd quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock valued at $22,510,000 after buying an additional 178,545 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on ASTE shares. Zacks Research upgraded 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 Monday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.00.

Astec Industries Stock Up 1.2%

Shares of ASTE opened at $45.51 on Wednesday. The company’s 50-day moving average price is $45.38 and its 200 day moving average price is $44.17. 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 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.04 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%. The company had revenue of $350.10 million during the quarter, compared to analyst estimates of $336.00 million.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, November 10th. Astec Industries’s dividend payout ratio (DPR) is 25.00%.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.