Gamco Investors INC. ET AL increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,350,011 shares of the industrial products company’s stock after buying an additional 122,125 shares during the period. Gamco Investors INC. ET AL owned 5.99% of Astec Industries worth $43,956,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ASTE. Swiss National Bank raised its holdings in shares of Astec Industries by 9.5% during the second quarter. Swiss National Bank now owns 40,300 shares of the industrial products company’s stock valued at $1,312,000 after acquiring an additional 3,500 shares in the last quarter. Aperio Group LLC raised its holdings in Astec Industries by 25.4% in the second quarter. Aperio Group LLC now owns 39,121 shares of the industrial products company’s stock worth $1,274,000 after purchasing an additional 7,917 shares in the last quarter. KBC Group NV raised its holdings in Astec Industries by 208.7% in the second quarter. KBC Group NV now owns 5,627 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 3,804 shares in the last quarter. Strs Ohio raised its holdings in Astec Industries by 1,030.0% in the second quarter. Strs Ohio now owns 22,600 shares of the industrial products company’s stock worth $735,000 after purchasing an additional 20,600 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Astec Industries in the first quarter worth $281,000. 92.56% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on ASTE shares. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Friday, June 7th. ValuEngine raised Astec Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $41.00.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The business had revenue of $304.80 million for the quarter, compared to analysts’ expectations of $299.96 million. Astec Industries had a positive return on equity of 7.07% and a negative net margin of 0.20%. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. Research analysts forecast that Astec Industries, Inc. will post 2.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.53%. Astec Industries’s payout ratio is currently 15.07%.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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