Two Sigma Investments LP Buys 9,897 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Two Sigma Investments LP lifted its stake in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,833 shares of the industrial products company's stock after buying an additional 9,897 shares during the period. Two Sigma Investments LP owned about 0.14% of Astec Industries worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ASTE. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Astec Industries by 123.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,346 shares of the industrial products company's stock valued at $549,000 after purchasing an additional 9,042 shares in the last quarter. Legato Capital Management LLC boosted its stake in Astec Industries by 196.1% in the fourth quarter. Legato Capital Management LLC now owns 27,671 shares of the industrial products company's stock valued at $930,000 after acquiring an additional 18,325 shares during the last quarter. Financial Engines Advisors L.L.C. bought a new position in Astec Industries in the fourth quarter valued at approximately $204,000. Envestnet Asset Management Inc. bought a new position in Astec Industries in the fourth quarter valued at approximately $260,000. Finally, Principal Financial Group Inc. boosted its stake in Astec Industries by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 110,573 shares of the industrial products company's stock valued at $3,715,000 after acquiring an additional 3,082 shares during the last quarter. Institutional investors own 93.16% of the company's stock.

Astec Industries Stock Down 0.3%

Shares of ASTE stock opened at $39.63 on Friday. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $42.79. The firm's fifty day moving average price is $36.93 and its two-hundred day moving average price is $35.66. The firm has a market capitalization of $906.22 million, a P/E ratio of -495.31 and a beta of 1.40.

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 the consensus estimate of $0.46 by $0.42. The company had revenue of $329.40 million for the quarter, compared to analyst estimates of $320.40 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. Astec Industries's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Tuesday, May 13th. Astec Industries's dividend payout ratio is currently 78.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ASTE shares. Robert W. Baird lifted their price target on shares of Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Wall Street Zen raised shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 9th.

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.

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