Assenagon Asset Management S.A. Grows Stake in Astec Industries, Inc. (NASDAQ:ASTE)

Assenagon Asset Management S.A. raised its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 96.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,101 shares of the industrial products company’s stock after purchasing an additional 84,202 shares during the period. Assenagon Asset Management S.A.’s holdings in Astec Industries were worth $5,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Astec Industries in the 1st quarter worth approximately $66,000. Northwest Investment Counselors LLC purchased a new stake in Astec Industries during the 3rd quarter worth approximately $72,000. Central Pacific Bank Trust Division acquired a new position in Astec Industries during the 1st quarter valued at approximately $85,000. Finally, SG Americas Securities LLC purchased a new position in shares of Astec Industries in the first quarter worth $116,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Down 0.8 %

Shares of ASTE stock opened at $31.57 on Wednesday. Astec Industries, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 2.50. The firm has a market capitalization of $718.69 million, a PE ratio of 28.96 and a beta of 1.27. The stock’s 50-day simple moving average is $31.74 and its 200-day simple moving average is $32.95.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, August 7th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). The business had revenue of $345.50 million for the quarter, compared to analyst estimates of $332.35 million. Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.52 annualized dividend and a yield of 1.65%. Astec Industries’s dividend payout ratio is presently 47.71%.

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.