Mangrove Partners IM LLC Takes Position in Astec Industries, Inc. $ASTE

Mangrove Partners IM LLC acquired a new position in Astec Industries, Inc. (NASDAQ:ASTE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,435 shares of the industrial products company’s stock, valued at approximately $887,000.

Several other large investors have also added to or reduced their stakes in ASTE. Amalgamated Bank increased its stake in 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 buying an additional 224 shares during the last quarter. Martin & Co. Inc. TN lifted its position in Astec Industries by 0.5% during the 3rd quarter. Martin & Co. Inc. TN now owns 80,973 shares of the industrial products company’s stock worth $3,897,000 after buying an additional 373 shares in the last quarter. Swiss National Bank boosted its stake in shares of Astec Industries by 1.5% during the 3rd quarter. Swiss National Bank now owns 39,800 shares of the industrial products company’s stock worth $1,916,000 after buying an additional 600 shares during the last quarter. Legal & General Group Plc boosted its stake 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 worth $2,495,000 after buying an additional 694 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new position in shares of Astec Industries in the 3rd quarter valued at about $50,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Stock Performance

Shares of ASTE stock opened at $52.88 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of 31.48, a P/E/G ratio of 2.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.49 and a quick ratio of 1.07. The company has a fifty day moving average price of $54.07 and a two-hundred day moving average price of $48.79. Astec Industries, Inc. has a one year low of $29.65 and a one year high of $64.37.

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

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 9th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. Astec Industries’s dividend payout ratio (DPR) is presently 30.95%.

Insiders Place Their Bets

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total transaction of $59,543.25. Following the transaction, the insider owned 8,828 shares of the company’s stock, valued at $539,125.96. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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