Tudor Investment Corp ET AL Buys Shares of 56,677 Astec Industries, Inc. $ASTE

Tudor Investment Corp ET AL purchased a new position in Astec Industries, Inc. (NASDAQ:ASTE) during the 3rd quarter, HoldingsChannel reports. The firm purchased 56,677 shares of the industrial products company’s stock, valued at approximately $2,728,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Astec Industries by 1.4% during the third quarter. Vanguard Group Inc. now owns 2,513,520 shares of the industrial products company’s stock worth $120,976,000 after acquiring an additional 34,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 9,174 shares during the period. American Century Companies Inc. boosted its holdings in Astec Industries by 24.5% in the 3rd quarter. American Century Companies Inc. now owns 672,030 shares of the industrial products company’s stock valued at $32,345,000 after purchasing an additional 132,095 shares during the period. Geode Capital Management LLC grew its position in Astec Industries by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock worth $24,109,000 after purchasing an additional 11,365 shares during the last quarter. Finally, Invesco Ltd. grew its position in Astec Industries by 3.1% in the 3rd quarter. Invesco Ltd. now owns 510,171 shares of the industrial products company’s stock worth $24,555,000 after purchasing an additional 15,357 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Trading Down 1.8%

Shares of Astec Industries stock opened at $52.14 on Friday. The firm has a market capitalization of $1.19 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 2.01 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’s fifty day moving average price is $55.01 and its two-hundred day moving average price is $49.20. Astec Industries, Inc. has a 52-week low of $29.65 and a 52-week high of $64.37.

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

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 given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 9th. Astec Industries’s dividend payout ratio is 30.95%.

Wall Street Analysts Forecast Growth

ASTE has been the subject of a number of research analyst reports. Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Wall Street Zen downgraded Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Finally, Longbow Research raised Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Insider Buying and Selling

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total transaction of $59,543.25. Following the completion of the transaction, the insider owned 8,828 shares in the company, valued at $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.99% of the stock is currently owned by corporate insiders.

About Astec Industries

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.