Millennium Management LLC Has $1.73 Million Stock Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

Millennium Management LLC trimmed its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,468 shares of the industrial products company's stock after selling 21,087 shares during the period. Millennium Management LLC owned about 0.23% of Astec Industries worth $1,729,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Astec Industries by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock valued at $22,488,000 after acquiring an additional 35,690 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Astec Industries by 1.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 219,528 shares of the industrial products company's stock valued at $7,376,000 after acquiring an additional 3,874 shares during the period. Deutsche Bank AG grew its position in Astec Industries by 54.0% in the fourth quarter. Deutsche Bank AG now owns 19,854 shares of the industrial products company's stock valued at $667,000 after acquiring an additional 6,959 shares during the period. Dean Capital Management grew its position in Astec Industries by 188.2% in the fourth quarter. Dean Capital Management now owns 44,002 shares of the industrial products company's stock valued at $1,478,000 after acquiring an additional 28,734 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Astec Industries by 691.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 48,851 shares of the industrial products company's stock valued at $1,641,000 after acquiring an additional 42,682 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Trading Down 0.3%

Shares of ASTE traded down $0.11 during trading hours on Wednesday, hitting $39.74. 75,469 shares of the stock traded hands, compared to its average volume of 153,667. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $42.79. The firm has a market capitalization of $908.73 million, a PE ratio of -496.69 and a beta of 1.40. The business has a fifty day moving average of $36.73 and a 200-day moving average of $35.61.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.42. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $329.40 million for the quarter, compared to analyst estimates of $320.40 million. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Tuesday, May 13th. Astec Industries's dividend payout ratio (DPR) is presently 78.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASTE. Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Robert W. Baird increased their target price on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th.

Astec Industries Company 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.