Connor Clark & Lunn Investment Management Ltd. boosted its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 149.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,704 shares of the industrial products company's stock after purchasing an additional 24,358 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of Astec Industries worth $1,402,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Astec Industries by 79.0% in the fourth quarter. JPMorgan Chase & Co. now owns 101,287 shares of the industrial products company's stock valued at $3,403,000 after buying an additional 44,701 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Astec Industries by 24.3% in the 4th quarter. Wells Fargo & Company MN now owns 13,389 shares of the industrial products company's stock worth $450,000 after acquiring an additional 2,616 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Astec Industries in the fourth quarter valued at approximately $260,000. Invesco Ltd. grew its position in Astec Industries by 0.3% in the fourth quarter. Invesco Ltd. now owns 381,598 shares of the industrial products company's stock valued at $12,822,000 after acquiring an additional 1,243 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Astec Industries during the fourth quarter valued at approximately $1,552,000. Institutional investors and hedge funds own 93.16% of the company's stock.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $41.00.
View Our Latest Research Report on Astec Industries
Astec Industries Stock Down 1.2%
ASTE stock traded down $0.54 during midday trading on Thursday, hitting $43.55. 104,153 shares of the company's stock were exchanged, compared to its average volume of 200,428. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. Astec Industries, Inc. has a 12-month low of $29.04 and a 12-month high of $46.64. The firm has a 50 day moving average price of $41.05 and a 200-day moving average price of $37.84. The stock has a market capitalization of $996.42 million, a price-to-earnings ratio of 21.88 and a beta of 1.43.
Astec Industries (NASDAQ:ASTE - Get Free Report) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.60 by $0.28. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.The company had revenue of $330.30 million during the quarter, compared to analysts' expectations of $361.00 million.
Astec Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 11th. Astec Industries's dividend payout ratio (DPR) is currently 26.13%.
Astec Industries Profile
(
Free Report)
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.
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