State Street Corp Has $27.95 Million Stake in Astec Industries, Inc. (NASDAQ:ASTE)

State Street Corp grew its position in Astec Industries, Inc. (NASDAQ:ASTE) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 875,128 shares of the industrial products company’s stock after purchasing an additional 26,256 shares during the quarter. State Street Corp owned approximately 3.84% of Astec Industries worth $27,952,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ASTE. GAMMA Investing LLC boosted its holdings in shares of Astec Industries by 69.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after buying an additional 458 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Astec Industries during the third quarter worth $45,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astec Industries in the third quarter worth $64,000. Point72 DIFC Ltd bought a new stake in Astec Industries in the third quarter valued at $69,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Astec Industries during the third quarter valued at about $72,000. Institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Down 2.3 %

Shares of NASDAQ ASTE opened at $33.29 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The company has a 50-day moving average price of $35.49 and a 200-day moving average price of $33.02. The stock has a market capitalization of $759.08 million, a P/E ratio of -416.07 and a beta of 1.30. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74.

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

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, November 13th. Astec Industries’s payout ratio is currently -650.00%.

Wall Street Analyst Weigh In

A number of analysts recently commented on ASTE shares. Robert W. Baird boosted their target price on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th.

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.