Astec Industries, Inc. $ASTE Shares Bought by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Astec Industries by 9.3% during the first quarter, now holding 113,293 shares worth approximately $3.9 million.
• Astec Industries reported earnings of $0.88 per share, exceeding analysts' estimates, but its revenue of $330.30 million fell short of expectations.
• The company announced a quarterly dividend of $0.13 per share, representing an annualized yield of 1.1% and a dividend payout ratio of 26.13%.

Advisors Asset Management Inc. lifted its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,293 shares of the industrial products company's stock after acquiring an additional 9,658 shares during the period. Advisors Asset Management Inc. owned 0.50% of Astec Industries worth $3,903,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Astec Industries by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock valued at $22,488,000 after purchasing an additional 35,690 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Astec Industries by 98.8% in 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 buying an additional 179,618 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Astec Industries by 6.6% in 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 buying an additional 17,444 shares in the last quarter. Northern Trust Corp grew its position in shares of Astec Industries by 14.8% in the 4th quarter. Northern Trust Corp now owns 263,311 shares of the industrial products company's stock worth $8,847,000 after buying an additional 34,039 shares during the last quarter. Finally, Heartland Advisors Inc. raised its stake 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 worth $8,089,000 after acquiring an additional 50,000 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Stock Up 3.1%

NASDAQ:ASTE traded up $1.44 during midday trading on Thursday, reaching $47.57. 153,995 shares of the stock traded hands, compared to its average volume of 183,338. The stock has a market capitalization of $1.09 billion, a PE ratio of 23.90 and a beta of 1.39. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $47.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. The business has a 50-day moving average of $42.83 and a two-hundred day moving average of $39.25.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.28. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.The business had revenue of $330.30 million for the quarter, compared to the consensus estimate of $361.00 million.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, August 11th. Astec Industries's dividend payout ratio 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.