Legato Capital Management LLC reduced its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 56.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,425 shares of the industrial products company's stock after selling 30,976 shares during the quarter. Legato Capital Management LLC owned about 0.10% of Astec Industries worth $1,015,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ASTE. Royal Bank of Canada raised its stake in Astec Industries by 15.6% during the 1st quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company's stock worth $2,262,000 after acquiring an additional 8,847 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Astec Industries during the first quarter worth about $1,526,000. Millennium Management LLC increased its stake in shares of Astec Industries by 188.2% during the first quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company's stock worth $5,111,000 after acquiring an additional 96,883 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Astec Industries by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company's stock worth $2,259,000 after buying an additional 1,358 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Astec Industries by 2.9% during the first quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company's stock worth $1,604,000 after buying an additional 1,305 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total transaction of $59,543.25. Following the completion of the transaction, the insider owned 8,828 shares of the company's stock, valued at approximately $539,125.96. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.99% of the company's stock.
Astec Industries Stock Performance
Shares of ASTE opened at $48.58 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.00 and a current ratio of 2.34. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.22 and a beta of 1.47. The company's 50 day simple moving average is $54.82 and its 200 day simple moving average is $51.47. Astec Industries, Inc. has a 1 year low of $36.43 and a 1 year high of $65.69.
Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.34). The firm had revenue of $396.30 million for the quarter, compared to analysts' expectations of $393.24 million. Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. On average, sell-side analysts predict that Astec Industries, Inc. will post 3.63 EPS for the current year.
Astec Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Astec Industries's dividend payout ratio is presently 46.43%.
Analyst Upgrades and Downgrades
ASTE has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Astec Industries from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 7th. Longbow Research raised shares of Astec Industries to a "strong-buy" rating in a report on Monday, March 16th. Freedom Capital raised shares of Astec Industries to a "strong-buy" rating in a report on Wednesday, April 1st. Wall Street Zen downgraded shares of Astec Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Zacks Research downgraded shares of Astec Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy".
Check Out Our Latest Report on ASTE
About Astec Industries
(
Free Report)
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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