Voloridge Investment Management LLC Sells 40,385 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Voloridge Investment Management LLC reduced its position in Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 84.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,575 shares of the industrial products company's stock after selling 40,385 shares during the quarter. Voloridge Investment Management LLC's holdings in Astec Industries were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ASTE. Gamco Investors INC. ET AL boosted its stake in Astec Industries by 0.9% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,273,957 shares of the industrial products company's stock worth $42,805,000 after acquiring an additional 11,541 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Astec Industries by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 669,279 shares of the industrial products company's stock worth $22,488,000 after buying an additional 35,690 shares in the last quarter. Invesco Ltd. lifted its stake in Astec Industries by 0.3% in the 4th quarter. Invesco Ltd. now owns 381,598 shares of the industrial products company's stock valued at $12,822,000 after acquiring an additional 1,243 shares in the last quarter. Northern Trust Corp boosted its position in Astec Industries by 14.8% during the 4th quarter. Northern Trust Corp now owns 263,311 shares of the industrial products company's stock worth $8,847,000 after acquiring an additional 34,039 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Astec Industries by 11.3% during the 4th quarter. First Eagle Investment Management LLC now owns 245,851 shares of the industrial products company's stock worth $8,261,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Astec Industries Stock Performance

Astec Industries stock traded down $0.11 during midday trading on Wednesday, reaching $39.74. 75,469 shares of the company's stock were exchanged, compared to its average volume of 153,554. Astec Industries, Inc. has a 52 week low of $28.46 and a 52 week high of $42.79. The firm has a market cap of $908.73 million, a price-to-earnings ratio of -496.69 and a beta of 1.40. The stock's 50-day simple moving average is $36.82 and its 200 day simple moving average is $35.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47.

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

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were paid a $0.13 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.31%. Astec Industries's dividend payout ratio (DPR) is presently 78.79%.

Analyst Upgrades and Downgrades

ASTE has been the topic of several analyst reports. 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. Robert W. Baird raised their price target on Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th.

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.