Barclays PLC lessened its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 56.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,962 shares of the industrial products company’s stock after selling 22,135 shares during the quarter. Barclays PLC owned 0.07% of Astec Industries worth $512,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Teton Advisors Inc. increased its holdings in Astec Industries by 1.2% during the 4th quarter. Teton Advisors Inc. now owns 307,200 shares of the industrial products company’s stock valued at $9,274,000 after acquiring an additional 3,600 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Astec Industries by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,234,782 shares of the industrial products company’s stock worth $37,278,000 after buying an additional 5,645 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Astec Industries by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 638,098 shares of the industrial products company’s stock worth $32,166,000 after purchasing an additional 21,576 shares during the period. Assenagon Asset Management S.A. acquired a new position in Astec Industries in the fourth quarter worth $827,000. Finally, Royce & Associates LP boosted its holdings in Astec Industries by 20.7% in the fourth quarter. Royce & Associates LP now owns 538,348 shares of the industrial products company’s stock worth $16,253,000 after purchasing an additional 92,200 shares during the period. Institutional investors and hedge funds own 92.57% of the company’s stock.
A number of research firms have commented on ASTE. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Robert W. Baird upped their price objective on shares of Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, ValuEngine raised shares of Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.00.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Friday, March 1st. The industrial products company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The firm had revenue of $317.00 million during the quarter, compared to the consensus estimate of $314.98 million. Astec Industries had a negative net margin of 5.16% and a positive return on equity of 10.05%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 EPS. Equities research analysts expect that Astec Industries, Inc. will post 3.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.08%. Astec Industries’s payout ratio is currently 15.07%.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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