Teton Advisors Inc. Sells 26,500 Shares of Astec Industries, Inc. $ASTE

Key Points

• Teton Advisors Inc. decreased its stake in Astec Industries by 27.2%, selling 26,500 shares and now holding 71,000 shares valued at approximately $2,446,000.
• Astec Industries received an upgraded rating from Wall Street Zen, moving from a "buy" to a "strong-buy" with a consensus price target of $41.00.
• The company recently announced a quarterly dividend of $0.13 per share, yielding about 1.1%, and will be paid out to investors of record on August 11th.

Teton Advisors Inc. decreased its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 27.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,000 shares of the industrial products company's stock after selling 26,500 shares during the quarter. Astec Industries comprises 1.5% of Teton Advisors Inc.'s portfolio, making the stock its 16th biggest holding. Teton Advisors Inc. owned about 0.31% of Astec Industries worth $2,446,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTE. Jump Financial LLC acquired a new stake in Astec Industries in the 1st quarter worth approximately $750,000. EntryPoint Capital LLC grew its stake in Astec Industries by 19.7% during the 1st quarter. EntryPoint Capital LLC now owns 12,940 shares of the industrial products company's stock valued at $446,000 after purchasing an additional 2,128 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Astec Industries during the first quarter worth about $480,000. Versor Investments LP purchased a new stake in Astec Industries in the first quarter valued at approximately $400,000. Finally, Algert Global LLC purchased a new position in Astec Industries during the 1st quarter worth approximately $2,924,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Astec Industries Trading Up 0.0%

Shares of Astec Industries stock opened at $45.9540 on Tuesday. The stock has a market cap of $1.05 billion, a P/E ratio of 23.09 and a beta of 1.43. Astec Industries, Inc. has a 1-year low of $29.04 and a 1-year high of $46.64. The stock's 50 day simple moving average is $41.27 and its 200-day simple moving average is $38.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08.

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

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 11th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.1%. Astec Industries's dividend payout ratio (DPR) is currently 26.13%.

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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