Short Interest in Astec Industries, Inc. (NASDAQ:ASTE) Grows By 27.4%

Key Points

• Astec Industries, Inc. experienced a 27.4% increase in short interest in August, with total short interest reaching 507,500 shares as of August 31st, reflecting 2.3% of the company's shares sold short.
• The company reported earnings per share (EPS) of $0.88 for the last quarter, exceeding expectations of $0.60, but fell short on revenue, reporting $330.30 million against an anticipated $361 million.
• Astec Industries announced a quarterly dividend of $0.13, yielding 1.1%, part of an annualized payout of $0.52, with a current payout ratio of 26.13%.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 507,500 shares, a growth of 27.4% from the August 15th total of 398,400 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 185,900 shares, the short-interest ratio is presently 2.7 days. Based on an average daily trading volume, of 185,900 shares, the short-interest ratio is presently 2.7 days. Approximately 2.3% of the shares of the stock are sold short.

Insiders Place Their Bets

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the completion of the transaction, the insider owned 15,559 shares of the company's stock, valued at approximately $734,695.98. This trade represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.69% of the company's stock.

Institutional Trading of Astec Industries

Large investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in shares of Astec Industries during the 2nd quarter worth $206,000. Public Sector Pension Investment Board boosted its stake in shares of Astec Industries by 7.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,930 shares of the industrial products company's stock worth $3,249,000 after acquiring an additional 5,638 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Astec Industries by 412.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock worth $92,000 after acquiring an additional 1,780 shares in the last quarter. State of Tennessee Department of Treasury boosted its stake in shares of Astec Industries by 28.1% during the 2nd quarter. State of Tennessee Department of Treasury now owns 16,150 shares of the industrial products company's stock worth $673,000 after acquiring an additional 3,546 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Astec Industries by 1,316.9% during the 2nd quarter. Lazard Asset Management LLC now owns 29,797 shares of the industrial products company's stock worth $1,242,000 after acquiring an additional 27,694 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Down 1.6%

Shares of ASTE traded down $0.77 during midday trading on Friday, reaching $47.81. 437,587 shares of the company were exchanged, compared to its average volume of 176,148. The stock has a 50-day moving average price of $43.57 and a 200-day moving average price of $39.78. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 24.03 and a beta of 1.39. Astec Industries has a 1-year low of $29.65 and a 1-year high of $48.90. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.28. The firm had revenue of $330.30 million during the quarter, compared to the consensus estimate of $361.00 million. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, August 11th. Astec Industries's dividend payout ratio (DPR) is currently 26.13%.

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.