MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 150,634 Shares of Astec Industries, Inc. $ASTE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Astec Industries by 22.5%, owning approximately 3.59% of the company valued at $28.25 million after acquiring additional shares.
• Astec Industries recently reported quarterly earnings of $0.88 per share, exceeding estimates by $0.28, but fell short on revenue at $330.30 million compared to an expected $361 million.
• The company declared a quarterly dividend of $0.13, representing a 1.1% dividend yield and a payout ratio of 26.13% for its shareholders.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 819,913 shares of the industrial products company's stock after buying an additional 150,634 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 3.59% of Astec Industries worth $28,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in Astec Industries in the first quarter worth approximately $36,000. Byrne Asset Management LLC boosted its stake in Astec Industries by 66.4% in the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock worth $40,000 after buying an additional 465 shares in the last quarter. CWM LLC boosted its stake in Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock worth $86,000 after buying an additional 1,802 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Astec Industries by 200.9% in the fourth quarter. Point72 Asset Management L.P. now owns 4,213 shares of the industrial products company's stock worth $142,000 after buying an additional 2,813 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Astec Industries in the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 93.16% of the company's stock.

Astec Industries Price Performance

ASTE traded down $0.90 during midday trading on Friday, hitting $46.67. The stock had a trading volume of 25,008 shares, compared to its average volume of 171,880. The company has a market cap of $1.07 billion, a P/E ratio of 23.45 and a beta of 1.39. The business has a fifty day moving average of $42.83 and a 200 day moving average of $39.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $47.94.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.28. The business had revenue of $330.30 million during 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a $0.13 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.1%. Astec Industries's payout ratio is presently 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.