Cubist Systematic Strategies LLC Acquires 21,889 Shares of Astec Industries, Inc. $ASTE

Key Points

• Cubist Systematic Strategies LLC increased its stake in Astec Industries by 44.8%, acquiring an additional 21,889 shares to own a total of 70,740 shares valued at approximately $2.44 million.
• Astec Industries recently announced a quarterly dividend of $0.13, with an annualized yield of 1.1% and a payout ratio of 26.13%.
• The company reported a net margin of 3.50% and earnings per share of $0.88 for its latest quarter, surpassing analysts' expectations of $0.60.

Cubist Systematic Strategies LLC boosted its holdings in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,740 shares of the industrial products company's stock after acquiring an additional 21,889 shares during the quarter. Cubist Systematic Strategies LLC owned 0.31% of Astec Industries worth $2,437,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. US Bancorp DE raised its stake in shares of Astec Industries by 4.1% in the first quarter. US Bancorp DE now owns 8,326 shares of the industrial products company's stock worth $287,000 after purchasing an additional 327 shares during the last quarter. Byrne Asset Management LLC grew its holdings in Astec Industries by 66.4% during the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock worth $40,000 after buying an additional 465 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in Astec Industries in the 1st quarter valued at $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Astec Industries by 20.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,223 shares of the industrial products company's stock valued at $249,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Astec Industries by 6.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,693 shares of the industrial products company's stock worth $763,000 after acquiring an additional 1,304 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Astec Industries Stock Performance

NASDAQ ASTE opened at $47.28 on Friday. The company has a fifty day moving average price of $42.49 and a 200-day moving average price of $38.88. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 23.76 and a beta of 1.39. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08. Astec Industries, Inc. has a 1 year low of $29.04 and a 1 year high of $47.94.

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

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Astec Industries's dividend payout ratio is currently 26.13%.

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.

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