Astec Industries, Inc. $ASTE Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Astec Industries by 265% during the first quarter, owning 73,647 shares valued at approximately $2.54 million.
• Astec Industries reported earnings of $0.88 per share for the last quarter, surpassing estimates of $0.60, but its revenue of $330.3 million fell short of expectations.
• The company declared a quarterly dividend of $0.13 per share, resulting in a 1.1% dividend yield and a payout ratio of 26.13%.

Trexquant Investment LP grew its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 265.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,647 shares of the industrial products company's stock after purchasing an additional 53,472 shares during the quarter. Trexquant Investment LP owned approximately 0.32% of Astec Industries worth $2,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Astec Industries by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock worth $22,488,000 after purchasing an additional 35,690 shares during the period. American Century Companies Inc. raised its position in Astec Industries by 98.8% in the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company's stock valued at $12,450,000 after purchasing an additional 179,618 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Astec Industries by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 282,394 shares of the industrial products company's stock valued at $9,728,000 after purchasing an additional 17,444 shares during the last quarter. Northern Trust Corp boosted its position in Astec Industries by 14.8% during the fourth quarter. Northern Trust Corp now owns 263,311 shares of the industrial products company's stock worth $8,847,000 after purchasing an additional 34,039 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its position in shares of Astec Industries by 27.1% in the first quarter. Heartland Advisors Inc. now owns 234,800 shares of the industrial products company's stock worth $8,089,000 after buying an additional 50,000 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Stock Performance

ASTE traded down $0.24 during trading hours on Monday, hitting $47.05. The company's stock had a trading volume of 60,618 shares, compared to its average volume of 172,730. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. Astec Industries, Inc. has a fifty-two week low of $29.04 and a fifty-two week high of $47.94. The company has a 50-day simple moving average of $42.49 and a 200 day simple moving average of $38.92. The firm has a market capitalization of $1.08 billion, a PE ratio of 23.65 and a beta of 1.39.

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

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, August 11th. Astec Industries's dividend payout ratio (DPR) is presently 26.13%.

About Astec Industries

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.