38,150 Shares in Astec Industries, Inc. $ASTE Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 38,150 Astec Industries shares during the second quarter, worth approximately $2.3 million and representing about 0.17% of the company. Institutional investors and hedge funds collectively own 93.16% of ASTE.
• Astec Industries reported quarterly revenue of $408.1 million, slightly above estimates, but earnings per share of $0.94 missed consensus by $0.10. Analysts expect full-year EPS of approximately $3.36.
• The stock opened at $42.28, near its 12-month low, while analysts’ views remained mixed; the consensus rating was “Moderate Buy.” The company also maintains a quarterly dividend of $0.13, equating to a 1.2% annual yield.

Corient Private Wealth LP bought a new position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,150 shares of the industrial products company's stock, valued at approximately $2,334,000. Corient Private Wealth LP owned about 0.17% of Astec Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ASTE. BlackRock Inc. acquired a new position in shares of Astec Industries during the second quarter valued at $212,732,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Astec Industries in the 2nd quarter valued at about $6,075,000. Easterly Investment Partners LLC lifted its position in Astec Industries by 115.0% in the 4th quarter. Easterly Investment Partners LLC now owns 192,030 shares of the industrial products company's stock valued at $8,319,000 after purchasing an additional 102,709 shares during the last quarter. Walleye Capital LLC acquired a new position in Astec Industries during the 1st quarter valued at about $2,976,000. Finally, Assenagon Asset Management S.A. boosted its stake in Astec Industries by 2,165.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 146,796 shares of the industrial products company's stock valued at $8,982,000 after purchasing an additional 140,315 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $42.28 on Wednesday. The stock has a market cap of $973.29 million, a price-to-earnings ratio of 49.74, a PEG ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.52 and a quick ratio of 1.10. Astec Industries, Inc. has a 12 month low of $39.99 and a 12 month high of $65.69. The stock's 50 day moving average price is $46.15 and its 200 day moving average price is $51.84.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.The firm had revenue of $408.10 million during the quarter, compared to the consensus estimate of $405.50 million. During the same period in the prior year, the firm posted $0.72 EPS. Equities research analysts anticipate that Astec Industries, Inc. will post 3.36 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 10th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 10th. Astec Industries's dividend payout ratio is presently 61.18%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ASTE. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Astec Industries in a report on Tuesday, August 4th. Wall Street Zen cut Astec Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, Zacks Research downgraded Astec Industries from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Astec Industries has a consensus rating of "Moderate Buy".

Astec Industries Profile

Astec Industries, Inc designs, engineers and manufactures equipment used in the infrastructure, aggregate processing, mining and energy industries. Its products support the production and handling of asphalt, concrete and other construction materials, as well as road building, recycling and related industrial applications.

The company's product portfolio includes asphalt production plants, concrete plants, rock crushers, screens, feeders, material-handling systems, thermal-processing equipment and industrial heaters.

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