Segall Bryant & Hamill LLC Decreases Stake in Astec Industries, Inc. (NASDAQ:ASTE)

Segall Bryant & Hamill LLC cut its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 50.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,010 shares of the industrial products company's stock after selling 204,889 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.87% of Astec Industries worth $6,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ASTE. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Astec Industries by 123.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,346 shares of the industrial products company's stock worth $549,000 after purchasing an additional 9,042 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Astec Industries by 33.6% during the fourth quarter. Advisors Asset Management Inc. now owns 103,635 shares of the industrial products company's stock worth $3,482,000 after acquiring an additional 26,055 shares during the period. Intech Investment Management LLC increased its holdings in Astec Industries by 63.7% in the fourth quarter. Intech Investment Management LLC now owns 16,338 shares of the industrial products company's stock valued at $549,000 after purchasing an additional 6,355 shares during the period. American Century Companies Inc. increased its position in Astec Industries by 184.4% in the 4th quarter. American Century Companies Inc. now owns 181,772 shares of the industrial products company's stock valued at $6,108,000 after buying an additional 117,858 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Astec Industries by 10.0% during the fourth quarter. Sei Investments Co. now owns 66,449 shares of the industrial products company's stock worth $2,233,000 after buying an additional 6,015 shares during the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Stock Up 0.8%

Astec Industries stock opened at $38.90 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.66 and a debt-to-equity ratio of 0.15. The business's 50-day moving average price is $40.44 and its 200 day moving average price is $36.49. The firm has a market cap of $889.64 million, a price-to-earnings ratio of 58.94 and a beta of 1.40. Astec Industries, Inc. has a 52 week low of $29.04 and a 52 week high of $43.35.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.42. Astec Industries had a net margin of 1.15% and a return on equity of 10.72%. The business had revenue of $329.40 million for the quarter, compared to analysts' expectations of $320.40 million. During the same quarter last year, the company earned $0.34 EPS. The company'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. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Tuesday, May 13th. Astec Industries's dividend payout ratio (DPR) is currently 78.79%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th.

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.

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