Algert Global LLC Invests $2.92 Million in Astec Industries, Inc. $ASTE

Key Points

• Algert Global LLC acquired 84,874 shares of Astec Industries, Inc. (NASDAQ:ASTE) valued at approximately $2.9 million, representing an ownership stake of 0.37% as of the latest SEC filing.
• Astec Industries' stock is currently priced at $44.09 with a market cap of $1.01 billion, despite experiencing a 2.2% decline recently.
• The company reported an earnings per share (EPS) of $0.88, surpassing estimates, alongside a quarterly dividend of $0.13 per share, indicating a 1.2% dividend yield.

Algert Global LLC bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 84,874 shares of the industrial products company's stock, valued at approximately $2,924,000. Algert Global LLC owned about 0.37% of Astec Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Astec Industries by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock worth $22,488,000 after purchasing an additional 35,690 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Astec Industries by 98.8% during the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company's stock valued at $12,450,000 after acquiring an additional 179,618 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Astec Industries by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 282,394 shares of the industrial products company's stock valued at $9,728,000 after acquiring an additional 17,444 shares during the last quarter. Northern Trust Corp boosted its position in shares of Astec Industries by 14.8% during the 4th quarter. Northern Trust Corp now owns 263,311 shares of the industrial products company's stock valued at $8,847,000 after acquiring an additional 34,039 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Astec Industries by 27.1% during the 1st quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company's stock valued at $8,089,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Analyst Upgrades and Downgrades

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

Astec Industries Trading Up 1.0%

ASTE traded up $0.48 on Tuesday, hitting $46.51. The company had a trading volume of 184,477 shares, compared to its average volume of 209,247. The firm has a market cap of $1.06 billion, a P/E ratio of 23.37 and a beta of 1.43. Astec Industries, Inc. has a 1 year low of $29.04 and a 1 year high of $46.77. The company's fifty day moving average price is $41.42 and its 200 day moving average price is $38.14. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13.

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

Astec Industries Announces Dividend

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

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.