BRYN MAWR TRUST Co increased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 27.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,501 shares of the industrial products company’s stock after purchasing an additional 22,485 shares during the period. BRYN MAWR TRUST Co owned 0.45% of Astec Industries worth $6,114,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in ASTE. California Public Employees Retirement System raised its stake in shares of Astec Industries by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 30,898 shares of the industrial products company’s stock valued at $1,808,000 after purchasing an additional 900 shares in the last quarter. Victory Capital Management Inc. raised its stake in Astec Industries by 87.5% during the third quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock worth $203,000 after acquiring an additional 1,695 shares during the period. Two Sigma Advisers LP raised its stake in Astec Industries by 14.1% during the fourth quarter. Two Sigma Advisers LP now owns 15,363 shares of the industrial products company’s stock worth $899,000 after acquiring an additional 1,900 shares during the period. Legal & General Group Plc raised its stake in Astec Industries by 3.6% during the third quarter. Legal & General Group Plc now owns 58,174 shares of the industrial products company’s stock worth $3,260,000 after acquiring an additional 2,018 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its stake in Astec Industries by 32.5% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 9,990 shares of the industrial products company’s stock worth $584,000 after acquiring an additional 2,453 shares during the period. 93.10% of the stock is owned by hedge funds and other institutional investors.
ASTE stock traded up $1.16 during midday trading on Thursday, reaching $55.98. The company had a trading volume of 93,559 shares, compared to its average volume of 163,801. Astec Industries, Inc. has a 1 year low of $45.70 and a 1 year high of $66.66. The company has a market cap of $1,274.05, a price-to-earnings ratio of 35.43, a PEG ratio of 1.60 and a beta of 1.13.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $312.38 million for the quarter, compared to the consensus estimate of $288.14 million. Astec Industries had a net margin of 3.19% and a return on equity of 5.43%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. analysts expect that Astec Industries, Inc. will post 3.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. Astec Industries’s payout ratio is presently 25.32%.
Several research firms have commented on ASTE. BidaskClub upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. William Blair upgraded shares of Astec Industries from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, January 9th. TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a report on Friday, January 5th. Finally, Seaport Global Securities restated a “hold” rating on shares of Astec Industries in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Astec Industries currently has a consensus rating of “Buy” and a consensus price target of $68.33.
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About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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