JPMorgan Chase & Co. Purchases 19,871 Shares of Astec Industries, Inc. $ASTE

JPMorgan Chase & Co. grew its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 41.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 67,387 shares of the industrial products company’s stock after acquiring an additional 19,871 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Astec Industries worth $3,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. iSAM Funds UK Ltd bought a new stake in Astec Industries during the third quarter worth about $50,000. Tower Research Capital LLC TRC increased its stake in shares of Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 1,780 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Astec Industries during the third quarter valued at approximately $136,000. AlphaQuest LLC purchased a new position in shares of Astec Industries during the third quarter valued at approximately $194,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Astec Industries in the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Insider Activity

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares in the company, valued at $539,125.96. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.99% of the stock is currently owned by company insiders.

Astec Industries Price Performance

NASDAQ ASTE opened at $55.06 on Friday. Astec Industries, Inc. has a one year low of $29.65 and a one year high of $64.37. The stock has a 50-day moving average of $55.54 and a 200 day moving average of $49.49. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.08 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 2.49.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.32. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%. The company had revenue of $400.60 million for the quarter, compared to the consensus estimate of $374.21 million.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 9th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, March 9th. Astec Industries’s dividend payout ratio is presently 30.95%.

Analyst Ratings Changes

ASTE has been the topic of several recent research reports. Zacks Research upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Longbow Research raised Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

About Astec Industries

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.