Bank of New York Mellon Corp lifted its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 664,533 shares of the industrial products company’s stock after purchasing an additional 26,435 shares during the quarter. Bank of New York Mellon Corp owned about 2.91% of Astec Industries worth $20,062,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in shares of Astec Industries by 29.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 391 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Astec Industries during the 4th quarter valued at approximately $59,000. GSA Capital Partners LLP bought a new position in Astec Industries during the 3rd quarter worth $225,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Astec Industries by 36.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,513 shares of the industrial products company’s stock worth $278,000 after buying an additional 1,460 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Astec Industries during the 3rd quarter worth $292,000. Institutional investors and hedge funds own 92.76% of the company’s stock.
ASTE has been the subject of a number of recent research reports. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. Robert W. Baird increased their price target on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Astec Industries has an average rating of “Hold” and a consensus price target of $52.00.
Astec Industries (NASDAQ:ASTE) last announced its earnings results on Friday, March 1st. The industrial products company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). Astec Industries had a negative net margin of 5.16% and a positive return on equity of 10.05%. The firm had revenue of $317.00 million for the quarter, compared to the consensus estimate of $314.98 million. During the same period in the prior year, the business earned $0.47 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Astec Industries, Inc. will post 3.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, March 11th. Astec Industries’s dividend payout ratio is 15.07%.
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Astec Industries 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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