Envestnet Asset Management Inc. Invests $260,000 in Astec Industries, Inc. (NASDAQ:ASTE)

Envestnet Asset Management Inc. purchased a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,733 shares of the industrial products company's stock, valued at approximately $260,000.

A number of other large investors have also recently made changes to their positions in ASTE. Wells Fargo & Company MN grew its holdings in shares of Astec Industries by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 13,389 shares of the industrial products company's stock worth $450,000 after acquiring an additional 2,616 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Astec Industries in the fourth quarter worth $882,000. Trexquant Investment LP increased its stake in shares of Astec Industries by 198.8% in the 4th quarter. Trexquant Investment LP now owns 20,175 shares of the industrial products company's stock worth $678,000 after acquiring an additional 13,424 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Astec Industries during the fourth quarter valued at approximately $86,000. Finally, Heartland Advisors Inc. increased its position in Astec Industries by 4.1% during the 4th quarter. Heartland Advisors Inc. now owns 184,800 shares of the industrial products company's stock valued at $6,209,000 after buying an additional 7,250 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research note on Friday. Robert W. Baird upped their target price on shares of 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 Stock Performance

NASDAQ ASTE traded up $1.14 on Tuesday, reaching $42.65. 15,407 shares of the stock were exchanged, compared to its average volume of 153,786. The firm has a market capitalization of $975.28 million, a PE ratio of -533.06 and a beta of 1.40. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $42.76. The company's 50-day simple moving average is $35.39 and its two-hundred day simple moving average is $35.02. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.42. The firm had revenue of $329.40 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share.

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 dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.22%. Astec Industries's dividend payout ratio (DPR) is presently 78.79%.

Astec Industries 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.