Public Sector Pension Investment Board Has $2.49 Million Stock Holdings in Astec Industries, Inc. $ASTE

Key Points

• The Public Sector Pension Investment Board increased its stake in Astec Industries by 27.1% in the 1st quarter, now owning 72,292 shares worth approximately $2.49 million.
• Astec Industries reported a second-quarter earnings per share (EPS) of $0.88, surpassing analysts' expectations of $0.60, although revenue of $330.30 million fell short of estimates.
• The company recently declared a quarterly dividend of $0.13, which will be paid to stockholders on August 29th, representing an annualized dividend yield of 1.2%.

Public Sector Pension Investment Board raised its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 27.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 72,292 shares of the industrial products company's stock after acquiring an additional 15,433 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Astec Industries worth $2,490,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in Astec Industries by 802.5% in the 4th quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company's stock valued at $25,000 after acquiring an additional 650 shares in the last quarter. Byrne Asset Management LLC increased its position in shares of Astec Industries by 66.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock worth $40,000 after purchasing an additional 465 shares during the last quarter. CWM LLC increased its position in shares of Astec Industries by 264.6% during the 1st quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock worth $86,000 after purchasing an additional 1,802 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Astec Industries by 200.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,213 shares of the industrial products company's stock worth $142,000 after purchasing an additional 2,813 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $201,000. Institutional investors own 93.16% of the company's stock.

Astec Industries Stock Performance

Shares of ASTE stock traded up $0.08 during trading on Monday, reaching $46.03. 192,791 shares of the company's stock were exchanged, compared to its average volume of 205,943. The company has a quick ratio of 1.08, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.05 billion, a PE ratio of 23.13 and a beta of 1.43. Astec Industries, Inc. has a twelve month low of $29.04 and a twelve month high of $46.64. The firm's fifty day moving average price is $41.27 and its 200-day moving average price is $38.08.

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

Astec Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.