BNP Paribas Financial Markets Raises Stake in Astec Industries, Inc. (NASDAQ:ASTE)

BNP Paribas Financial Markets increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 117.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,728 shares of the industrial products company's stock after purchasing an additional 10,096 shares during the quarter. BNP Paribas Financial Markets owned 0.08% of Astec Industries worth $629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of Astec Industries by 184.4% during the fourth quarter. American Century Companies Inc. now owns 181,772 shares of the industrial products company's stock valued at $6,108,000 after acquiring an additional 117,858 shares during the last quarter. Norges Bank acquired a new stake in Astec Industries in the 4th quarter valued at approximately $3,612,000. Renaissance Technologies LLC purchased a new stake in Astec Industries in the fourth quarter valued at approximately $1,552,000. JPMorgan Chase & Co. lifted its stake in Astec Industries by 79.0% during the fourth quarter. JPMorgan Chase & Co. now owns 101,287 shares of the industrial products company's stock worth $3,403,000 after purchasing an additional 44,701 shares in the last quarter. Finally, Dean Investment Associates LLC lifted its stake in Astec Industries by 174.1% during the fourth quarter. Dean Investment Associates LLC now owns 65,283 shares of the industrial products company's stock worth $2,194,000 after purchasing an additional 41,462 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Stock Up 3.0%

Astec Industries stock traded up $1.17 during mid-day trading on Tuesday, reaching $39.92. 132,291 shares of the company's stock were exchanged, compared to its average volume of 166,464. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $42.79. The company has a market cap of $912.85 million, a P/E ratio of -498.94 and a beta of 1.40. The company has a fifty day moving average of $36.35 and a 200-day moving average of $35.52.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.42. The business had revenue of $329.40 million for the quarter, compared to analysts' expectations of $320.40 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.52 annualized dividend and a yield of 1.30%. Astec Industries's dividend payout ratio (DPR) is 78.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASTE shares. Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Robert W. Baird lifted their target price on Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th.

About Astec Industries

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.