Sei Investments Co. Has $6.33 Million Stock Holdings in Astec Industries, Inc. $ASTE

Sei Investments Co. increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 19.4% in the first quarter, Holdings Channel.com reports. The firm owned 117,632 shares of the industrial products company’s stock after purchasing an additional 19,147 shares during the quarter. Sei Investments Co.’s holdings in Astec Industries were worth $6,333,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Astec Industries by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,433,501 shares of the industrial products company’s stock valued at $77,176,000 after buying an additional 22,154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Astec Industries by 1.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 818,031 shares of the industrial products company’s stock valued at $39,372,000 after acquiring an additional 9,174 shares in the last quarter. Invesco Ltd. lifted its position in Astec Industries by 14.9% in the 4th quarter. Invesco Ltd. now owns 586,160 shares of the industrial products company’s stock valued at $25,392,000 after acquiring an additional 75,989 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Astec Industries by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 431,031 shares of the industrial products company’s stock worth $18,672,000 after purchasing an additional 47,142 shares during the period. Finally, Millennium Management LLC boosted its stake in Astec Industries by 142.3% in the 4th quarter. Millennium Management LLC now owns 347,231 shares of the industrial products company’s stock worth $15,042,000 after purchasing an additional 203,911 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Up 3.7%

Astec Industries stock opened at $52.55 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.00 and a debt-to-equity ratio of 0.54. Astec Industries, Inc. has a 1-year low of $38.09 and a 1-year high of $65.69. The company has a fifty day simple moving average of $54.63 and a 200 day simple moving average of $54.86. The company has a market cap of $1.21 billion, a P/E ratio of 46.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.36.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.34). The business had revenue of $396.30 million for the quarter, compared to analyst estimates of $393.24 million. Astec Industries had a return on equity of 10.09% and a net margin of 1.75%. Research analysts anticipate that Astec Industries, Inc. will post 3.63 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.0%. Astec Industries’s payout ratio is 46.43%.

Analysts Set New Price Targets

Several analysts have issued reports on ASTE shares. Wall Street Zen downgraded Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings downgraded Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Finally, Zacks Research raised Astec Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Astec Industries 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.