Squarepoint Ops LLC Grows Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

Squarepoint Ops LLC boosted its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 33.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,376 shares of the industrial products company's stock after acquiring an additional 15,111 shares during the quarter. Squarepoint Ops LLC owned 0.26% of Astec Industries worth $2,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP bought a new stake in shares of Astec Industries in the 4th quarter worth approximately $619,000. Two Sigma Investments LP grew its position in Astec Industries by 45.1% during the 4th quarter. Two Sigma Investments LP now owns 31,833 shares of the industrial products company's stock valued at $1,070,000 after purchasing an additional 9,897 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Astec Industries during the fourth quarter valued at approximately $201,000. Point72 Asset Management L.P. boosted its stake in Astec Industries by 200.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,213 shares of the industrial products company's stock valued at $142,000 after purchasing an additional 2,813 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Astec Industries in the 4th quarter worth about $231,000. Hedge funds and other institutional investors own 93.16% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on ASTE shares. Robert W. Baird lifted their price objective on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. 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 Price Performance

Shares of ASTE traded down $0.13 during midday trading on Friday, hitting $39.44. 166,254 shares of the company traded hands, compared to its average volume of 153,397. Astec Industries, Inc. has a 52 week low of $28.46 and a 52 week high of $42.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The firm has a 50 day moving average of $36.60 and a 200-day moving average of $35.59. The stock has a market cap of $901.87 million, a price-to-earnings ratio of -492.94 and a beta of 1.40.

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

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.52 annualized dividend and a yield of 1.32%. Astec Industries's payout ratio is presently 78.79%.

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.