Cubist Systematic Strategies LLC Acquires 42,682 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Cubist Systematic Strategies LLC lifted its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 691.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,851 shares of the industrial products company's stock after acquiring an additional 42,682 shares during the period. Cubist Systematic Strategies LLC owned 0.21% of Astec Industries worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ASTE. Sterling Capital Management LLC boosted its stake in shares of Astec Industries by 802.5% in the fourth quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company's stock worth $25,000 after acquiring an additional 650 shares during the last quarter. Tompkins Financial Corp acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $34,000. R Squared Ltd acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $42,000. Meeder Asset Management Inc. acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $86,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Astec Industries during the 4th quarter valued at approximately $128,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Trading Down 0.5%

NASDAQ ASTE traded down $0.23 during mid-day trading on Friday, reaching $42.00. 98,368 shares of the stock were exchanged, compared to its average volume of 153,438. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The stock has a market capitalization of $960.41 million, a PE ratio of -524.93 and a beta of 1.40. The business's fifty day simple moving average is $35.89 and its 200 day simple moving average is $35.31. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $42.79.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.46 by $0.42. The firm had revenue of $329.40 million during the quarter, compared to analysts' expectations of $320.40 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. Astec Industries's quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 13th. Astec Industries's payout ratio is presently 78.79%.

Analysts Set New Price Targets

Several research firms have recently commented on ASTE. StockNews.com raised shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. Robert W. Baird upped their price target on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th.

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.