Texas Permanent School Fund Corp Purchases 2,548 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Texas Permanent School Fund Corp grew its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,449 shares of the industrial products company’s stock after purchasing an additional 2,548 shares during the period. Texas Permanent School Fund Corp owned about 0.10% of Astec Industries worth $666,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Astec Industries by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,531,823 shares of the industrial products company’s stock valued at $56,984,000 after buying an additional 29,657 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Astec Industries by 8.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,131,271 shares of the industrial products company’s stock worth $42,083,000 after acquiring an additional 86,969 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Astec Industries by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 369,157 shares of the industrial products company’s stock worth $13,733,000 after acquiring an additional 14,126 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Astec Industries by 6.3% in the 1st quarter. First Eagle Investment Management LLC now owns 236,251 shares of the industrial products company’s stock worth $10,327,000 after acquiring an additional 14,000 shares during the last quarter. Finally, SG Capital Management LLC boosted its stake in shares of Astec Industries by 100.8% in the 1st quarter. SG Capital Management LLC now owns 209,685 shares of the industrial products company’s stock valued at $9,165,000 after purchasing an additional 105,280 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Performance

NASDAQ ASTE opened at $31.90 on Friday. The company has a 50-day simple moving average of $32.69 and a two-hundred day simple moving average of $35.01. Astec Industries, Inc. has a 12-month low of $28.46 and a 12-month high of $49.02. The firm has a market cap of $726.20 million, a price-to-earnings ratio of 29.27 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 2.50 and a debt-to-equity ratio of 0.20.

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

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a $0.13 dividend. 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 presently 47.71%.

About Astec Industries

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.