Harvey Partners LLC Purchases 163,155 Shares of Astec Industries, Inc. $ASTE

Harvey Partners LLC boosted its position in Astec Industries, Inc. (NASDAQ:ASTE) by 48.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 501,000 shares of the industrial products company’s stock after acquiring an additional 163,155 shares during the quarter. Astec Industries makes up approximately 2.1% of Harvey Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Harvey Partners LLC’s holdings in Astec Industries were worth $24,113,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ASTE. Royal Bank of Canada increased its stake in shares of Astec Industries by 15.6% in the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock worth $2,262,000 after purchasing an additional 8,847 shares during the period. AQR Capital Management LLC bought a new stake in Astec Industries during the 1st quarter valued at approximately $1,526,000. Millennium Management LLC grew its holdings in Astec Industries by 188.2% in the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock valued at $5,111,000 after buying an additional 96,883 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Astec Industries by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock valued at $2,259,000 after buying an additional 1,358 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Astec Industries by 2.9% in the 1st quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock worth $1,604,000 after buying an additional 1,305 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Astec Industries Stock Performance

NASDAQ ASTE opened at $52.88 on Monday. Astec Industries, Inc. has a twelve month low of $29.65 and a twelve month high of $64.37. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.21 billion, a P/E ratio of 31.48, a PEG ratio of 2.00 and a beta of 1.38. The company’s 50-day simple moving average is $54.07 and its 200 day simple moving average is $48.82.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $374.21 million.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 9th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, March 9th. Astec Industries’s dividend payout ratio is 30.95%.

Insiders Place Their Bets

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 8,828 shares in the company, valued at $539,125.96. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

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.