MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $22.49 Million Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 669,279 shares of the industrial products company's stock after purchasing an additional 35,690 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.94% of Astec Industries worth $22,488,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ASTE. Jacobs Levy Equity Management Inc. raised its stake in shares of Astec Industries by 1.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 219,528 shares of the industrial products company's stock worth $7,376,000 after purchasing an additional 3,874 shares in the last quarter. Deutsche Bank AG increased its holdings in Astec Industries by 54.0% during the fourth quarter. Deutsche Bank AG now owns 19,854 shares of the industrial products company's stock worth $667,000 after buying an additional 6,959 shares during the last quarter. Dean Capital Management raised its position in Astec Industries by 188.2% during the fourth quarter. Dean Capital Management now owns 44,002 shares of the industrial products company's stock worth $1,478,000 after acquiring an additional 28,734 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Astec Industries by 691.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 48,851 shares of the industrial products company's stock worth $1,641,000 after acquiring an additional 42,682 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Astec Industries by 117.0% in the fourth quarter. BNP Paribas Financial Markets now owns 18,728 shares of the industrial products company's stock valued at $629,000 after acquiring an additional 10,096 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on ASTE. Robert W. Baird boosted their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. StockNews.com upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th.

Astec Industries Stock Performance

Shares of ASTE stock traded down $0.18 during trading on Tuesday, reaching $41.54. 17,356 shares of the company's stock were exchanged, compared to its average volume of 152,586. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $45.02. The firm's fifty day moving average price is $36.02 and its 200-day moving average price is $35.38. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $949.78 million, a PE ratio of -519.15 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 EPS for the quarter, beating the consensus estimate of $0.46 by $0.42. The firm had revenue of $329.40 million for 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 company's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 earnings per share.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.52 annualized dividend and a yield of 1.25%. Astec Industries's dividend payout ratio is currently 78.79%.

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.