Legal & General Group Plc Sells 451 Shares of Astec Industries, Inc. (ASTE)

Legal & General Group Plc lessened its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,697 shares of the industrial products company’s stock after selling 451 shares during the quarter. Legal & General Group Plc owned approximately 0.24% of Astec Industries worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in Astec Industries by 1.2% during the 4th quarter. BlackRock Inc. now owns 3,303,257 shares of the industrial products company’s stock worth $99,724,000 after purchasing an additional 39,207 shares during the last quarter. Vanguard Group Inc boosted its stake in Astec Industries by 3.0% during the 3rd quarter. Vanguard Group Inc now owns 2,067,387 shares of the industrial products company’s stock worth $104,217,000 after purchasing an additional 59,836 shares during the last quarter. Vanguard Group Inc. boosted its stake in Astec Industries by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,067,387 shares of the industrial products company’s stock worth $104,217,000 after purchasing an additional 59,836 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Astec Industries by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,813,905 shares of the industrial products company’s stock worth $54,762,000 after purchasing an additional 86,627 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in Astec Industries by 0.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,234,782 shares of the industrial products company’s stock worth $37,278,000 after purchasing an additional 5,645 shares during the last quarter. 92.76% of the stock is currently owned by institutional investors.

NASDAQ ASTE opened at $41.73 on Friday. Astec Industries, Inc. has a 52 week low of $27.86 and a 52 week high of $63.69. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.96. The firm has a market cap of $939.68 million, a PE ratio of 14.85 and a beta of 1.52.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Friday, March 1st. The industrial products company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.01). Astec Industries had a positive return on equity of 10.05% and a negative net margin of 5.16%. The company had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $314.98 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that Astec Industries, Inc. will post 3.22 earnings per share for the current fiscal year.

The business also recently declared 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. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.44 annualized dividend and a dividend yield of 1.05%. Astec Industries’s dividend payout ratio is presently 15.07%.

Several research firms have recently commented on ASTE. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Robert W. Baird lifted their price target on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Astec Industries currently has an average rating of “Hold” and an average price target of $52.00.

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About Astec Industries

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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Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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