Ieq Capital LLC Acquires Shares of 6,930 Astec Industries, Inc. $ASTE

Key Points

• Ieq Capital LLC has acquired a new position in Astec Industries, Inc., purchasing 6,930 shares valued at approximately $239,000 during the first quarter of the year.
• Astec Industries recently reported a quarterly earnings per share of $0.88, surpassing the consensus estimate of $0.60, although its revenue fell short of expectations at $330.30 million.
• The company declared a quarterly dividend of $0.13 per share, resulting in an annualized yield of 1.1%, with a current payout ratio of 26.13%.

Ieq Capital LLC bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,930 shares of the industrial products company's stock, valued at approximately $239,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Astec Industries by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock worth $22,488,000 after buying an additional 35,690 shares in the last quarter. American Century Companies Inc. lifted its holdings in Astec Industries by 98.8% during the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company's stock worth $12,450,000 after buying an additional 179,618 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Astec Industries by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 282,394 shares of the industrial products company's stock worth $9,728,000 after buying an additional 17,444 shares in the last quarter. Northern Trust Corp lifted its holdings in Astec Industries by 14.8% during the 4th quarter. Northern Trust Corp now owns 263,311 shares of the industrial products company's stock worth $8,847,000 after buying an additional 34,039 shares in the last quarter. Finally, Heartland Advisors Inc. increased its position in shares of Astec Industries by 27.1% in the 1st quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company's stock valued at $8,089,000 after purchasing an additional 50,000 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Down 2.4%

Shares of NASDAQ:ASTE traded down $1.16 during trading hours on Friday, reaching $46.41. The stock had a trading volume of 92,659 shares, compared to its average volume of 182,357. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $47.94. The firm's 50 day moving average is $42.91 and its 200-day moving average is $39.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.32 and a beta of 1.39.

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

Astec Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 11th were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.52 dividend on an annualized basis 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.