Thrivent Financial for Lutherans Lowers Position in Astec Industries, Inc. (NASDAQ:ASTE)

Thrivent Financial for Lutherans cut its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,905 shares of the industrial products company’s stock after selling 993 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Astec Industries worth $572,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in Astec Industries by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 315 shares in the last quarter. GAMMA Investing LLC raised its holdings in Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 458 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Astec Industries by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,413 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 975 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Astec Industries by 52.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company’s stock valued at $178,000 after acquiring an additional 2,056 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Astec Industries during the third quarter valued at about $72,000. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $39.22 on Thursday. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The company’s 50 day moving average is $34.16 and its 200 day moving average is $32.68. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The company has a market cap of $894.22 million, a PE ratio of -490.19 and a beta of 1.30.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The company had revenue of $291.40 million for the quarter, compared to the consensus estimate of $312.90 million. During the same quarter in the prior year, the company earned ($0.01) EPS. Astec Industries’s quarterly revenue was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.13 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 annualized dividend and a yield of 1.33%. Astec Industries’s dividend payout ratio is presently -649.92%.

Analyst Ratings Changes

ASTE has been the topic of several recent analyst reports. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird upped their price objective on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

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.