Martin & Co. Inc. TN Acquires Shares of 84,425 Astec Industries, Inc. $ASTE

Key Points

• Martin & Co. Inc. TN acquired 84,425 Astec Industries shares worth approximately $5.2 million, giving it a 0.37% stake; institutional investors collectively own 93.16% of the company.
• Astec reported quarterly EPS of $0.94, below the $1.04 analyst consensus, while revenue of $408.1 million slightly exceeded expectations. Analysts’ overall consensus remains “Moderate Buy,” though some firms recently downgraded the stock.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 1.2% yield. Shares opened at $43.55, near their 52-week low of $40.47.

Martin & Co. Inc. TN acquired a new stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 84,425 shares of the industrial products company's stock, valued at approximately $5,166,000. Astec Industries makes up 0.8% of Martin & Co. Inc. TN's holdings, making the stock its 25th biggest holding. Martin & Co. Inc. TN owned 0.37% of Astec Industries as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ASTE. Allworth Financial LP purchased a new position in shares of Astec Industries during the 2nd quarter valued at approximately $25,000. iSAM Funds UK Ltd acquired a new position in Astec Industries during the third quarter worth $50,000. Farther Finance Advisors LLC raised its position in Astec Industries by 8,994.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company's stock worth $67,000 after acquiring an additional 1,529 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 1,780 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Astec Industries during the fourth quarter valued at $127,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Trading Up 4.0%

Shares of ASTE stock opened at $43.55 on Friday. Astec Industries, Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $65.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 2.52. The stock's fifty day moving average is $52.64 and its two-hundred day moving average is $54.33. The firm has a market capitalization of $1.00 billion, a P/E ratio of 51.24, a PEG ratio of 1.18 and a beta of 1.36.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The business had revenue of $408.10 million for the quarter, compared to analysts' expectations of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same period in the previous year, the company earned $0.72 EPS. Research analysts expect that Astec Industries, Inc. will post 3.36 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 10th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 10th. Astec Industries's dividend payout ratio is currently 61.18%.

Analysts Set New Price Targets

A number of analysts have recently commented on ASTE shares. Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Astec Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Zacks Research cut Astec Industries from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Astec Industries Company 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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