Astec Industries, Inc. (NASDAQ:ASTE) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC raised its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 25.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,929 shares of the industrial products company’s stock after acquiring an additional 9,841 shares during the quarter. Jane Street Group LLC owned approximately 0.21% of Astec Industries worth $1,531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Astec Industries by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,684 shares of the industrial products company’s stock valued at $45,637,000 after purchasing an additional 29,421 shares in the last quarter. State Street Corp raised its position in shares of Astec Industries by 3.1% in the third quarter. State Street Corp now owns 875,128 shares of the industrial products company’s stock valued at $27,952,000 after buying an additional 26,256 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Astec Industries by 7.7% during the second quarter. Gabelli Funds LLC now owns 581,500 shares of the industrial products company’s stock valued at $17,247,000 after buying an additional 41,800 shares during the period. Harvey Partners LLC boosted its position in Astec Industries by 101.4% during the third quarter. Harvey Partners LLC now owns 282,000 shares of the industrial products company’s stock worth $9,007,000 after acquiring an additional 142,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Astec Industries by 23.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 215,654 shares of the industrial products company’s stock worth $6,888,000 after acquiring an additional 41,130 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Price Performance

ASTE stock opened at $33.80 on Friday. The firm has a market cap of $770.71 million, a P/E ratio of -422.45 and a beta of 1.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74. The stock has a 50-day simple moving average of $35.56 and a 200-day simple moving average of $33.04.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $312.90 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. 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 have issued reports on the company. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird boosted their target price 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 Company 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.