Goldman Sachs Group Inc. Decreases Stake in Astec Industries, Inc. $ASTE

Key Points

• Goldman Sachs Group Inc. reduced its stake in Astec Industries, Inc. by 19.2%, now holding 145,639 shares valued at $5,017,000 after selling 34,686 shares in Q1.
• Astec Industries reported a quarterly earnings per share of $0.88, exceeding estimates by $0.28, despite revenues falling below analysts' expectations.
• The company's quarterly dividend of $0.13 per share reflects an annualized dividend yield of 1.1%, with a payout ratio of 26.13%.

Goldman Sachs Group Inc. reduced its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 19.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,639 shares of the industrial products company's stock after selling 34,686 shares during the period. Goldman Sachs Group Inc. owned approximately 0.64% of Astec Industries worth $5,017,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Astec Industries in the 1st quarter valued at about $36,000. Byrne Asset Management LLC raised its stake in shares of Astec Industries by 66.4% in the 1st quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 465 shares in the last quarter. CWM LLC raised its stake in shares of Astec Industries by 264.6% in the 1st quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 1,802 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Astec Industries by 200.9% in the 4th quarter. Point72 Asset Management L.P. now owns 4,213 shares of the industrial products company's stock valued at $142,000 after purchasing an additional 2,813 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Astec Industries in the 4th quarter valued at about $201,000. Institutional investors and hedge funds own 93.16% of the company's stock.

Insiders Place Their Bets

In related news, insider Barend Snyman sold 2,498 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $47.22, for a total transaction of $117,955.56. Following the sale, the insider owned 15,559 shares in the company, valued at $734,695.98. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Astec Industries Stock Performance

Shares of Astec Industries stock opened at $46.75 on Wednesday. The firm has a market cap of $1.07 billion, a PE ratio of 23.49 and a beta of 1.39. The firm's 50-day simple moving average is $43.15 and its 200-day simple moving average is $39.54. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $48.13.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $330.30 million for the quarter, compared to analyst estimates of $361.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Dividend Announcement

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