Dimensional Fund Advisors LP Purchases 22,154 Shares of Astec Industries, Inc. $ASTE

Key Points

• Dimensional Fund Advisors increased its Astec Industries stake by 1.6%, purchasing 22,154 additional shares and bringing its holdings to 1.43 million shares, or 6.26% of the company. Institutional investors collectively own 93.16% of ASTE.
• Astec reported quarterly earnings of $0.54 per share, missing analysts’ $0.88 estimate, while revenue of $396.3 million slightly exceeded expectations. Shares recently opened at $51.40, below their 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.13 per share, equivalent to a $0.52 annualized dividend and 1.0% yield. Analyst sentiment remains broadly positive, with a consensus “Buy” rating despite some recent downgrades to “Hold.”

Dimensional Fund Advisors LP lifted its position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,433,501 shares of the industrial products company's stock after purchasing an additional 22,154 shares during the period. Dimensional Fund Advisors LP owned 6.26% of Astec Industries worth $77,176,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. iSAM Funds UK Ltd purchased a new position in Astec Industries during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC lifted its holdings in Astec Industries by 8,994.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company's stock worth $67,000 after buying an additional 1,529 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock worth $92,000 after buying an additional 1,780 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Astec Industries in the 4th quarter worth approximately $127,000. Finally, LSV Asset Management purchased a new position in shares of Astec Industries during the fourth quarter valued at approximately $182,000. 93.16% of the stock is owned by institutional investors.

Astec Industries Stock Performance

Shares of ASTE opened at $51.40 on Friday. The company has a 50-day simple moving average of $54.51 and a two-hundred day simple moving average of $54.82. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.34 and a quick ratio of 1.00. The firm has a market capitalization of $1.18 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 1.28 and a beta of 1.34. Astec Industries, Inc. has a one year low of $37.88 and a one year high of $65.69.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its earnings results on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.34). Astec Industries had a return on equity of 10.09% and a net margin of 1.75%.The firm had revenue of $396.30 million for the quarter, compared to analysts' expectations of $393.24 million. On average, analysts anticipate that Astec Industries, Inc. will post 3.63 EPS for the current fiscal year.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, August 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.0%. Astec Industries's payout ratio is currently 46.43%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Astec Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Weiss Ratings cut shares of Astec Industries from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 7th. Finally, Zacks Research raised shares of Astec Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "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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