John G Ullman & Associates Inc. Has $8.19 Million Stock Position in Astec Industries, Inc. $ASTE

Key Points

• John G Ullman & Associates Inc. cut its stake in Astec Industries by 13.4% in the first quarter, leaving it with 152,109 shares valued at about $8.19 million.
• Astec Industries reported Q1 EPS of $0.54, missing the consensus estimate of $0.88, though revenue came in slightly ahead of expectations at $396.3 million.
• The company paid a quarterly dividend of $0.13 per share and currently offers an annualized yield of about 0.9%; analysts still have an overall Buy consensus on the stock.

John G Ullman & Associates Inc. reduced its position in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 13.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,109 shares of the industrial products company's stock after selling 23,567 shares during the quarter. Astec Industries comprises 1.1% of John G Ullman & Associates Inc.'s holdings, making the stock its 28th biggest position. John G Ullman & Associates Inc. owned 0.66% of Astec Industries worth $8,190,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Astec Industries by 41.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,387 shares of the industrial products company's stock valued at $3,243,000 after acquiring an additional 19,871 shares during the last quarter. UBS Group AG boosted its position in shares of Astec Industries by 47.0% during the fourth quarter. UBS Group AG now owns 83,185 shares of the industrial products company's stock worth $3,604,000 after purchasing an additional 26,588 shares in the last quarter. Easterly Investment Partners LLC boosted its position in shares of Astec Industries by 115.0% during the fourth quarter. Easterly Investment Partners LLC now owns 192,030 shares of the industrial products company's stock worth $8,319,000 after purchasing an additional 102,709 shares in the last quarter. Rather & Kittrell Inc. acquired a new position in shares of Astec Industries in the 4th quarter valued at $1,056,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Astec Industries in the 3rd quarter valued at $2,728,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Down 2.1%

Shares of ASTE stock opened at $55.09 on Friday. The firm has a fifty day moving average of $53.50 and a 200-day moving average of $54.19. The company has a quick ratio of 1.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.54. Astec Industries, Inc. has a 12-month low of $37.82 and a 12-month high of $65.69. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 49.19, a P/E/G ratio of 1.41 and a beta of 1.34.

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

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 13th. Astec Industries's dividend payout ratio is currently 46.43%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Freedom Capital upgraded shares of Astec Industries to a "strong-buy" rating in a research report on Wednesday, April 1st. Weiss Ratings cut Astec Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Astec Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Zacks Research raised Astec Industries from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to 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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