Astec Industries, Inc. (NASDAQ:ASTE) Stock Holdings Lifted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 32.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,646 shares of the industrial products company’s stock after purchasing an additional 399 shares during the period. GAMMA Investing LLC’s holdings in Astec Industries were worth $72,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new position in Astec Industries in the fourth quarter worth approximately $42,000. TFO Wealth Partners LLC raised its holdings in shares of Astec Industries by 41,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,251 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 1,248 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Astec Industries in the 3rd quarter valued at $208,000. Legato Capital Management LLC bought a new stake in Astec Industries in the fourth quarter worth $208,000. Finally, Dean Capital Management acquired a new position in Astec Industries during the fourth quarter worth $208,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Astec Industries

In related news, insider Michael Paul Norris acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were bought at an average price of $33.46 per share, for a total transaction of $33,460.00. Following the acquisition, the insider now owns 15,886 shares in the company, valued at approximately $531,545.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASTE shares. Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating and reduced their price target for the stock from $47.00 to $37.00 in a research report on Thursday, May 2nd. StockNews.com cut Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

Astec Industries Trading Up 0.9 %

Shares of NASDAQ:ASTE opened at $30.22 on Monday. Astec Industries, Inc. has a 52-week low of $28.97 and a 52-week high of $56.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.95 and a current ratio of 2.51. The company has a market cap of $687.81 million, a P/E ratio of 27.73 and a beta of 1.33. The stock’s 50-day moving average is $34.89 and its 200-day moving average is $36.76.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.47). Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The business had revenue of $309.20 million during the quarter, compared to analyst estimates of $343.27 million. During the same period last year, the business earned $0.90 EPS. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that Astec Industries, Inc. will post 2.44 earnings per share for the current year.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, May 10th. Astec Industries’s payout ratio is currently 47.71%.

Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.