Tudor Investment Corp ET AL Invests $2.73 Million in Astec Industries, Inc. $ASTE

Key Points

• Tudor Investment Corp ET AL opened a new position of 56,677 shares in Astec Industries (NASDAQ:ASTE) in Q3 worth about $2.73 million, and institutional investors now own roughly 93.16% of the stock.
• Astec beat expectations last quarter with EPS of $1.06 vs. $0.74 expected and revenue of $400.6M vs. $374.2M, while the stock trades near $61.22 with a market cap of about $1.40B and a P/E of 36.4.
• Multiple firms have upgraded ASTE to Strong Buy (three Strong Buy ratings vs. one Hold), and the company pays a quarterly dividend of $0.13 (annualized yield ~0.8%).

Tudor Investment Corp ET AL purchased a new position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 56,677 shares of the industrial products company's stock, valued at approximately $2,728,000. Tudor Investment Corp ET AL owned 0.25% of Astec Industries at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. iSAM Funds UK Ltd purchased a new stake in shares of Astec Industries in the third quarter worth $50,000. Tower Research Capital LLC TRC raised its position in shares of Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company's stock worth $92,000 after buying an additional 1,780 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Astec Industries in the third quarter worth $136,000. AlphaQuest LLC purchased a new stake in shares of Astec Industries in the third quarter worth $194,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of Astec Industries in the third quarter worth $203,000. 93.16% of the stock is owned by institutional investors.

Astec Industries Stock Up 0.1%

Shares of NASDAQ:ASTE opened at $61.22 on Friday. The stock's 50-day moving average price is $56.55 and its 200-day moving average price is $49.86. Astec Industries, Inc. has a 12-month low of $31.88 and a 12-month high of $64.37. The stock has a market capitalization of $1.40 billion, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.32. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.The firm had revenue of $400.60 million for the quarter, compared to analysts' expectations of $374.21 million.

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.8%. Astec Industries's dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ASTE shares. Zacks Research upgraded Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Longbow Research upgraded Astec Industries to a "strong-buy" rating in a research report on Monday, March 16th. Freedom Capital upgraded Astec Industries to a "strong-buy" rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Astec Industries in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

Insider Activity

In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the sale, the insider directly owned 8,828 shares of the company's stock, valued at $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by insiders.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec's product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.

Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries, Inc. (NASDAQ:ASTE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.