PDT Partners LLC Sells 13,091 Shares of Astec Industries, Inc. $ASTE

Key Points

• PDT Partners LLC has significantly reduced its stake in Astec Industries, selling 13,091 shares, representing a 58.6% decrease during the first quarter, and now holds 9,263 shares worth approximately $319,000.
• Astec Industries reported a quarterly EPS of $0.88, surpassing analysts' expectations of $0.60, though revenue of $330.30 million fell short of the $361.00 million estimate.
• The company announced a quarterly dividend of $0.13, resulting in an annualized dividend yield of 1.1%, with a payout ratio of 26.13%.

PDT Partners LLC decreased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 58.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,263 shares of the industrial products company's stock after selling 13,091 shares during the period. PDT Partners LLC's holdings in Astec Industries were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASTE. American Century Companies Inc. raised its stake in Astec Industries by 98.8% during the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company's stock worth $12,450,000 after acquiring an additional 179,618 shares during the period. Nuveen LLC bought a new stake in Astec Industries during the 1st quarter worth approximately $4,419,000. Algert Global LLC bought a new stake in Astec Industries during the 1st quarter worth approximately $2,924,000. Trexquant Investment LP raised its stake in Astec Industries by 265.0% during the 1st quarter. Trexquant Investment LP now owns 73,647 shares of the industrial products company's stock worth $2,537,000 after acquiring an additional 53,472 shares during the period. Finally, Heartland Advisors Inc. raised its position in shares of Astec Industries by 27.1% during the first quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company's stock valued at $8,089,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 93.16% of the company's stock.

Astec Industries Price Performance

Shares of Astec Industries stock traded up $1.44 on Thursday, hitting $47.57. 153,995 shares of the company traded hands, compared to its average volume of 183,338. The stock has a market capitalization of $1.09 billion, a P/E ratio of 23.90 and a beta of 1.39. 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 52 week low of $29.65 and a 52 week high of $47.94. The business has a 50-day simple moving average of $42.83 and a 200 day simple moving average of $39.25.

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

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were given a dividend of $0.13 per share. The ex-dividend date was Monday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Astec Industries's dividend payout ratio (DPR) is presently 26.13%.

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.