First Eagle Investment Management LLC Has $6.53 Million Position in Astec Industries, Inc. (NASDAQ:ASTE)

First Eagle Investment Management LLC decreased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 6.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 220,251 shares of the industrial products company’s stock after selling 16,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.97% of Astec Industries worth $6,533,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ASTE. Quest Partners LLC acquired a new position in shares of Astec Industries during the fourth quarter valued at $42,000. TFO Wealth Partners LLC raised its holdings in 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 worth $47,000 after purchasing an additional 1,248 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Astec Industries during the 1st quarter valued at about $66,000. GAMMA Investing LLC boosted its stake in shares of Astec Industries by 32.0% in the 1st quarter. GAMMA Investing LLC now owns 1,646 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 399 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Astec Industries during the 1st quarter worth approximately $85,000. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Trading Down 2.3 %

Shares of NASDAQ ASTE opened at $31.90 on Friday. Astec Industries, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $49.02. The firm has a market capitalization of $726.20 million, a P/E ratio of 29.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.04. The company’s 50 day simple moving average is $32.69 and its 200 day simple moving average is $35.05.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. The company had revenue of $345.50 million during the quarter, compared to analyst estimates of $332.35 million. During the same period last year, the company earned $0.87 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Monday, August 12th. Astec Industries’s dividend payout ratio (DPR) 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.