Wealth Enhancement Advisory Services LLC Buys Shares of 6,780 Astec Industries, Inc. $ASTE

Key Points

• Wealth Enhancement Advisory Services LLC acquired 6,780 shares of Astec Industries, Inc. valued at approximately $289,000 during the 2nd quarter.
• Astec Industries has a consensus rating of "Hold" from analysts with an average target price of $41.00.
• The company recently declared a quarterly dividend of $0.13 per share, representing an annualized yield of 1.1%.

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,780 shares of the industrial products company's stock, valued at approximately $289,000.

A number of other hedge funds also recently modified their holdings of the business. Byrne Asset Management LLC increased its position in shares of Astec Industries by 66.4% during the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock worth $40,000 after buying an additional 465 shares during the period. Peregrine Capital Management LLC lifted its stake in Astec Industries by 4.9% during the 1st quarter. Peregrine Capital Management LLC now owns 138,958 shares of the industrial products company's stock valued at $4,787,000 after acquiring an additional 6,448 shares in the last quarter. Principal Financial Group Inc. increased its stake in Astec Industries by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 113,556 shares of the industrial products company's stock valued at $3,912,000 after buying an additional 2,983 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Astec Industries by 73.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 13,422 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 5,689 shares during the last quarter. Finally, CWM LLC lifted its stake in Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 1,802 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a report on Wednesday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Astec Industries has a consensus rating of "Hold" and an average target price of $41.00.

Insiders Place Their Bets

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of Astec Industries stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the completion of the transaction, the insider owned 15,559 shares in the company, valued at approximately $734,695.98. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by company insiders.

Astec Industries Stock Up 1.4%

Shares of NASDAQ ASTE opened at $48.16 on Thursday. Astec Industries, Inc. has a 52 week low of $29.65 and a 52 week high of $50.83. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 2.31 and a beta of 1.43. The company has a quick ratio of 1.08, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average is $45.83 and its 200 day moving average is $40.85.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share 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 business had revenue of $330.30 million during the quarter, compared to analysts' expectations of $361.00 million.

Astec Industries Announces Dividend

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

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