Astec Industries, Inc. (NASDAQ:ASTE) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 112.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,999 shares of the industrial products company’s stock after acquiring an additional 6,879 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Astec Industries were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ASTE. Louisiana State Employees Retirement System acquired a new stake in Astec Industries in the fourth quarter worth $424,000. Illinois Municipal Retirement Fund bought a new position in shares of Astec Industries in the third quarter worth $695,000. FMR LLC grew its stake in shares of Astec Industries by 65,426.4% in the third quarter. FMR LLC now owns 473,756 shares of the industrial products company’s stock worth $22,319,000 after purchasing an additional 473,033 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Astec Industries by 34.5% in the third quarter. Kennedy Capital Management LLC now owns 108,542 shares of the industrial products company’s stock worth $5,113,000 after purchasing an additional 27,813 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Astec Industries by 989.7% in the third quarter. Assenagon Asset Management S.A. now owns 92,681 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 84,176 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Stock Down 0.8 %

Shares of Astec Industries stock opened at $33.23 on Friday. The stock has a 50-day moving average price of $39.51 and a 200 day moving average price of $36.73. The company has a market cap of $756.31 million, a P/E ratio of 30.49 and a beta of 1.40. The company has a current ratio of 2.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19. Astec Industries, Inc. has a 1 year low of $28.97 and a 1 year high of $56.33.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The company had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. During the same period in the previous year, the business posted $0.90 earnings per share. The firm’s revenue was down 11.1% on a year-over-year basis. As a group, analysts expect that Astec Industries, Inc. will post 2.44 EPS for the current fiscal year.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries’s payout ratio is 47.71%.

Analysts Set New Price Targets

ASTE has been the subject of several recent analyst reports. StockNews.com cut Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating and decreased their target price for the company from $47.00 to $37.00 in a research note on Thursday, May 2nd.

Insider Activity at Astec Industries

In other Astec Industries news, insider Michael Paul Norris bought 1,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $33.46 per share, with a total value of $33,460.00. Following the acquisition, the insider now directly owns 15,886 shares of the company’s stock, valued at approximately $531,545.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.