GSA Capital Partners LLP Takes Position in Astec Industries, Inc. $ASTE

GSA Capital Partners LLP purchased a new stake in Astec Industries, Inc. (NASDAQ:ASTE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,872 shares of the industrial products company’s stock, valued at approximately $910,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in Astec Industries by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,433,501 shares of the industrial products company’s stock valued at $77,176,000 after buying an additional 22,154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Astec Industries by 1.1% during the third 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 acquiring an additional 9,174 shares during the last quarter. Invesco Ltd. increased its position in Astec Industries by 14.9% during the 4th quarter. Invesco Ltd. now owns 586,160 shares of the industrial products company’s stock worth $25,392,000 after purchasing an additional 75,989 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Astec Industries by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 431,031 shares of the industrial products company’s stock valued at $18,672,000 after purchasing an additional 47,142 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Astec Industries by 142.3% in the 4th quarter. Millennium Management LLC now owns 347,231 shares of the industrial products company’s stock valued at $15,042,000 after purchasing an additional 203,911 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Trading Down 4.3%

NASDAQ:ASTE opened at $41.40 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.52 and a quick ratio of 1.10. The firm has a market capitalization of $953.03 million, a P/E ratio of 48.71, a P/E/G ratio of 1.17 and a beta of 1.36. Astec Industries, Inc. has a 12-month low of $40.47 and a 12-month high of $65.69. The business has a 50 day simple moving average of $53.12 and a 200 day simple moving average of $54.50.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.The firm had revenue of $408.10 million for the quarter, compared to the consensus estimate of $405.50 million. During the same period in the previous year, the firm earned $0.72 EPS. Equities research analysts predict that Astec Industries, Inc. will post 3.36 EPS for the current year.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, August 10th. Astec Industries’s dividend payout ratio is 61.18%.

Analysts Set New Price Targets

Several brokerages have weighed in on ASTE. Zacks Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Wall Street Zen cut Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate 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.