Algert Global LLC Buys New Shares 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 purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in 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 worth $12,450,000 after buying an additional 179,618 shares in the last quarter. Nuveen LLC acquired a new position in Astec Industries during the 1st quarter worth $4,419,000. Heartland Advisors Inc. lifted its holdings in Astec Industries by 27.1% during the 1st quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company's stock worth $8,089,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Astec Industries during the 4th quarter worth $1,552,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Astec Industries by 691.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 48,851 shares of the industrial products company's stock worth $1,641,000 after buying an additional 42,682 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Astec Industries Stock Down 0.1%

Shares of ASTE traded down $0.0650 during midday trading on Monday, hitting $45.8850. The stock had a trading volume of 93,745 shares, compared to its average volume of 170,485. The company has a 50 day simple moving average of $41.17 and a two-hundred day simple moving average of $37.99. Astec Industries, Inc. has a twelve month low of $29.04 and a twelve month high of $46.64. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 23.08 and a beta of 1.43. 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 released its quarterly earnings results 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. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.The firm had revenue of $330.30 million for the quarter, compared to the consensus estimate of $361.00 million.

Astec Industries Announces Dividend

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

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.