Corient Private Wealth LP Takes $2.31 Million Position in Astec Industries, Inc. $ASTE

Key Points

• Corient Private Wealth LP bought 37,836 Astec Industries shares worth approximately $2.31 million, while institutional investors collectively own 93.16% of the company.
• Astec reported quarterly EPS of $0.94, missing analysts’ $1.04 estimate, although revenue of $408.1 million exceeded expectations. Shares opened at $42.32, near the company’s one-year low of $40.47.
• The company paid a quarterly dividend of $0.13, equivalent to an annualized $0.52 payout and a 1.2% yield. Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell and an overall “Moderate Buy” consensus.

Corient Private Wealth LP bought a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 37,836 shares of the industrial products company's stock, valued at approximately $2,315,000. Corient Private Wealth LP owned 0.16% of Astec Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP purchased a new position in Astec Industries in the 2nd quarter worth approximately $25,000. iSAM Funds UK Ltd purchased a new stake in shares of Astec Industries during the third quarter valued at approximately $50,000. Farther Finance Advisors LLC boosted its stake in shares of Astec Industries by 8,994.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 1,529 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock worth $92,000 after purchasing an additional 1,780 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Astec Industries in the fourth quarter worth approximately $127,000. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $42.32 on Thursday. Astec Industries, Inc. has a 1 year low of $40.47 and a 1 year high of $65.69. The stock has a market capitalization of $974.42 million, a P/E ratio of 49.79, a P/E/G ratio of 1.11 and a beta of 1.35. The company's 50-day moving average is $50.67 and its 200 day moving average is $53.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.52 and a quick ratio of 1.10.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $408.10 million during the quarter, compared to analysts' expectations of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same quarter last year, the business earned $0.72 earnings per share. On average, sell-side analysts expect that Astec Industries, Inc. will post 3.36 earnings per share for the current year.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. Astec Industries's dividend payout ratio is currently 61.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ASTE. Wall Street Zen downgraded shares of Astec Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Astec Industries from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Astec Industries currently has an average rating of "Moderate Buy".

Astec Industries Profile

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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