Nuveen LLC Makes New Investment in Astec Industries, Inc. $ASTE

Key Points

• Nuveen LLC has purchased 128,272 shares of Astec Industries, Inc., valued at approximately $4.4 million, increasing its ownership to 0.56% of the company.
• Astec Industries reported a quarterly earnings per share (EPS) of $0.88, exceeding analyst expectations of $0.60, despite revenue falling short at $330.3 million.
• The company declared a quarterly dividend of $0.13 per share, with an ex-dividend date set for August 11th, which represents an annual yield of 1.1%.

Nuveen LLC bought a new position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 128,272 shares of the industrial products company's stock, valued at approximately $4,419,000. Nuveen LLC owned about 0.56% of Astec Industries at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Astec Industries by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 113,556 shares of the industrial products company's stock worth $3,912,000 after buying an additional 2,983 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Astec Industries by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 64,219 shares of the industrial products company's stock valued at $2,158,000 after purchasing an additional 3,963 shares during the last quarter. CWM LLC lifted its position in Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 1,802 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in Astec Industries in the fourth quarter valued at approximately $260,000. Finally, Wells Fargo & Company MN lifted its position in Astec Industries by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 13,389 shares of the industrial products company's stock valued at $450,000 after purchasing an additional 2,616 shares during the last quarter. Institutional investors own 93.16% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $41.00.

Astec Industries Stock Down 1.4%

ASTE stock traded down $0.68 during midday trading on Friday, hitting $46.29. The stock had a trading volume of 290,829 shares, compared to its average volume of 220,438. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 23.26 and a beta of 1.43. The business has a 50-day moving average of $41.88 and a two-hundred day moving average of $38.38. Astec Industries, Inc. has a 52-week low of $29.04 and a 52-week high of $47.94. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.28. The company had revenue of $330.30 million for 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 11th. Astec Industries's dividend payout ratio is presently 26.13%.

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.