Astec Industries, Inc. $ASTE Shares Acquired by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC increased its stake in Astec Industries by 115% in the fourth quarter, buying 102,709 additional shares and bringing its total to 192,030 shares worth about $8.3 million.
• Astec Industries recently reported earnings below expectations, posting $0.54 EPS versus the $0.88 consensus estimate, even though revenue of $396.3 million slightly topped forecasts.
• The company paid a quarterly dividend of $0.13 per share, equal to an annualized yield of about 1.0%, while analyst opinions remain mixed with a consensus rating of Moderate Buy.

Easterly Investment Partners LLC lifted its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 115.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 192,030 shares of the industrial products company's stock after purchasing an additional 102,709 shares during the quarter. Easterly Investment Partners LLC owned about 0.84% of Astec Industries worth $8,319,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in ASTE. Penn Capital Management Company LLC acquired a new stake in shares of Astec Industries during the third quarter worth $10,096,000. Harvey Partners LLC boosted its holdings in shares of Astec Industries by 48.3% during the third quarter. Harvey Partners LLC now owns 501,000 shares of the industrial products company's stock worth $24,113,000 after purchasing an additional 163,155 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Astec Industries by 1,800.5% during the third quarter. New York State Common Retirement Fund now owns 142,388 shares of the industrial products company's stock worth $6,853,000 after purchasing an additional 134,896 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Astec Industries by 24.5% during the third quarter. American Century Companies Inc. now owns 672,030 shares of the industrial products company's stock worth $32,345,000 after purchasing an additional 132,095 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Astec Industries by 29.9% during the second quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company's stock worth $20,629,000 after purchasing an additional 113,765 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Astec Industries Trading Down 0.1%

NASDAQ:ASTE opened at $50.29 on Monday. The business's 50-day moving average is $54.64 and its two-hundred day moving average is $51.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.00. Astec Industries, Inc. has a 12 month low of $36.43 and a 12 month high of $65.69. The firm has a market capitalization of $1.16 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 1.26 and a beta of 1.38.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.34). Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. The company had revenue of $396.30 million during the quarter, compared to analysts' expectations of $393.24 million. Research analysts predict that Astec Industries, Inc. will post 3.63 earnings per share for the current fiscal year.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 13th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.52 annualized dividend and a yield of 1.0%. Astec Industries's dividend payout ratio (DPR) is 46.43%.

Insider Buying and Selling

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares of the company's stock, valued at $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ASTE. Longbow Research upgraded Astec Industries to a "strong-buy" rating in a report on Monday, March 16th. Wall Street Zen lowered Astec Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Zacks Research lowered Astec Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 26th. Freedom Capital raised Astec Industries to a "strong-buy" rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings lowered Astec Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Astec Industries Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec's product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.

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