Jump Financial LLC Invests $750,000 in Astec Industries, Inc. $ASTE

Key Points

• Jump Financial LLC acquired a new stake in Astec Industries, purchasing 21,763 shares valued at about $750,000, representing 0.10% ownership in the company.
• Astec Industries received an upgrade from a "buy" to a "strong-buy" rating by Wall Street Zen, with a current consensus rating of "Hold" and an average target price of $41.00.
• The company reported earnings of $0.88 per share, exceeding analysts' expectations of $0.60, along with revenues of $330.30 million against projected $361.00 million.

Jump Financial LLC bought a new position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,763 shares of the industrial products company's stock, valued at approximately $750,000. Jump Financial LLC owned approximately 0.10% of Astec Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASTE. Wells Fargo & Company MN increased its position in Astec Industries by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 13,389 shares of the industrial products company's stock worth $450,000 after purchasing an additional 2,616 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Astec Industries during the 4th quarter worth approximately $260,000. Barclays PLC raised its stake in shares of Astec Industries by 14.4% during the fourth quarter. Barclays PLC now owns 46,370 shares of the industrial products company's stock worth $1,559,000 after buying an additional 5,841 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Astec Industries by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 14,039 shares of the industrial products company's stock valued at $472,000 after buying an additional 834 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Astec Industries by 6.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,693 shares of the industrial products company's stock valued at $763,000 after buying an additional 1,304 shares during the period. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Stock Up 1.4%

Shares of ASTE stock traded up $0.65 on Thursday, hitting $46.38. The stock had a trading volume of 76,327 shares, compared to its average volume of 173,194. Astec Industries, Inc. has a 52-week low of $29.04 and a 52-week high of $47.94. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.32 and a beta of 1.39. 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's 50 day moving average is $42.29 and its 200-day moving average is $38.65.

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

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were given a $0.13 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Astec Industries's dividend payout ratio (DPR) is presently 26.13%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Astec Industries currently has a consensus rating of "Hold" and an average price target of $41.00.

Astec Industries Profile

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.