Astec Industries, Inc. $ASTE Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,513,520 shares of the industrial products company’s stock after purchasing an additional 34,535 shares during the quarter. Vanguard Group Inc. owned 10.99% of Astec Industries worth $120,976,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Amalgamated Bank raised its stake in shares of Astec Industries by 3.4% in the 3rd quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock valued at $324,000 after acquiring an additional 224 shares during the period. Legal & General Group Plc raised its holdings in shares of Astec Industries by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock valued at $2,495,000 after buying an additional 694 shares during the period. CWM LLC boosted its holdings in Astec Industries by 16.5% in the 3rd quarter. CWM LLC now owns 7,449 shares of the industrial products company’s stock worth $359,000 after acquiring an additional 1,055 shares during the period. Martin & Co. Inc. TN grew its position in Astec Industries by 1.5% in the second quarter. Martin & Co. Inc. TN now owns 80,600 shares of the industrial products company’s stock valued at $3,360,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Astec Industries by 10.5% during the second quarter. Intech Investment Management LLC now owns 12,717 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 1,211 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ASTE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Wall Street Zen upgraded Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Astec Industries Trading Up 1.2%

Shares of NASDAQ ASTE opened at $62.63 on Thursday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 37.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.38. The stock’s 50 day simple moving average is $52.38 and its 200 day simple moving average is $48.25. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $64.37.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.32. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.The company had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $374.21 million.

Astec Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. Astec Industries’s payout ratio is currently 30.95%.

Astec Industries Company 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.