Gabelli Funds LLC trimmed its holdings in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 582,605 shares of the industrial products company's stock after selling 6,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.55% of Astec Industries worth $20,071,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Byrne Asset Management LLC raised its holdings in shares of Astec Industries by 66.4% in 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 during the period. CWM LLC raised its holdings in shares of Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock worth $86,000 after buying an additional 1,802 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Astec Industries by 200.9% in the fourth quarter. Point72 Asset Management L.P. now owns 4,213 shares of the industrial products company's stock worth $142,000 after buying an additional 2,813 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Astec Industries in the fourth quarter worth approximately $201,000. Finally, ProShare Advisors LLC bought a new position in Astec Industries in the fourth quarter worth approximately $231,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Astec Industries currently has an average rating of "Hold" and an average price target of $41.00.
Read Our Latest Research Report on ASTE
Astec Industries Stock Performance
Shares of ASTE opened at $46.51 on Wednesday. Astec Industries, Inc. has a 12 month low of $29.04 and a 12 month high of $46.77. The stock has a fifty day moving average price of $41.42 and a 200-day moving average price of $38.14. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.06 billion, a PE ratio of 23.37 and a beta of 1.43.
Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $361.00 million.
Astec Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 1.1%. The ex-dividend date is Monday, August 11th. Astec Industries's dividend payout ratio is currently 26.13%.
About Astec Industries
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Astec Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astec Industries wasn't on the list.
While Astec Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
We are about to experience the greatest A.I. boom in stock market history...
Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.
That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.
- The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
- The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
- Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.
Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.
And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...
Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access