State of Alaska Department of Revenue Reduces Stock Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

State of Alaska Department of Revenue lessened its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,012 shares of the industrial products company’s stock after selling 354 shares during the quarter. State of Alaska Department of Revenue’s holdings in Astec Industries were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ASTE. Dimensional Fund Advisors LP grew its stake in Astec Industries by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,684 shares of the industrial products company’s stock worth $45,637,000 after buying an additional 29,421 shares during the last quarter. Gabelli Funds LLC raised its position in Astec Industries by 7.7% in the 2nd quarter. Gabelli Funds LLC now owns 581,500 shares of the industrial products company’s stock valued at $17,247,000 after purchasing an additional 41,800 shares during the last quarter. First Eagle Investment Management LLC raised its position in Astec Industries by 6.3% in the 1st quarter. First Eagle Investment Management LLC now owns 236,251 shares of the industrial products company’s stock valued at $10,327,000 after purchasing an additional 14,000 shares during the last quarter. SG Capital Management LLC increased its stake in Astec Industries by 100.8% in the first quarter. SG Capital Management LLC now owns 209,685 shares of the industrial products company’s stock valued at $9,165,000 after purchasing an additional 105,280 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in shares of Astec Industries by 41.0% in the second quarter. Peregrine Capital Management LLC now owns 175,738 shares of the industrial products company’s stock valued at $5,212,000 after buying an additional 51,141 shares during the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Trading Up 1.9 %

Shares of ASTE stock opened at $37.82 on Friday. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.04. The business’s fifty day moving average price is $31.83 and its 200 day moving average price is $32.56. The firm has a market capitalization of $862.33 million, a PE ratio of -472.75 and a beta of 1.26.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. The business had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) EPS.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.37%. Astec Industries’s payout ratio is -650.00%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price target on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday.

Astec Industries 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.