Insider Selling: Astec Industries (NASDAQ:ASTE) Insider Sells 2,498 Shares of Stock

Key Points

• Insider Barend Snyman sold 2,498 shares of Astec Industries for about $118,000, reducing his stake by 13.83%.
• Astec reported $0.88 earnings per share for the last quarter, exceeding estimates, but revenue fell short of projections at $330.30 million.
• The company recently announced a quarterly dividend of $0.13 per share, yielding approximately 1.1% annually, with a payout ratio of 26.13%.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) insider Barend Snyman sold 2,498 shares of Astec Industries stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $47.22, for a total value of $117,955.56. Following the completion of the transaction, the insider owned 15,559 shares in the company, valued at $734,695.98. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Astec Industries Stock Performance

Shares of ASTE stock traded down $0.77 during midday trading on Friday, hitting $47.81. The company had a trading volume of 437,587 shares, compared to its average volume of 176,148. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08. The company's 50 day simple moving average is $43.57 and its 200 day simple moving average is $39.78. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 24.03 and a beta of 1.39. Astec Industries, Inc. has a 52-week low of $29.65 and a 52-week high of $48.90.

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

Astec Industries Dividend Announcement

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

Institutional Trading of Astec Industries

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of Astec Industries in the 2nd quarter valued at approximately $27,000. Wealth Preservation Advisors LLC acquired a new position in Astec Industries during the first quarter worth $36,000. Byrne Asset Management LLC raised its holdings in Astec Industries by 66.4% during the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock worth $40,000 after purchasing an additional 465 shares during the last quarter. Tompkins Financial Corp raised its holdings in Astec Industries by 30.0% during the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company's stock worth $54,000 after purchasing an additional 300 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock worth $92,000 after purchasing an additional 1,780 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

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.