New York State Teachers Retirement System Lowers Stock Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

New York State Teachers Retirement System trimmed its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 4.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,588 shares of the industrial products company’s stock after selling 1,900 shares during the period. New York State Teachers Retirement System’s holdings in Astec Industries were worth $1,264,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Astec Industries by 96.9% during the third quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company’s stock valued at $5,465,000 after purchasing an additional 84,202 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Astec Industries during the third quarter valued at approximately $72,000. nVerses Capital LLC lifted its holdings in shares of Astec Industries by 425.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 3,400 shares during the last quarter. GAMMA Investing LLC raised its holdings in Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 458 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Astec Industries in the 3rd quarter worth approximately $352,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $37.82 on Friday. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The firm has a market cap of $862.30 million, a P/E ratio of -472.69 and a beta of 1.26. The company has a 50 day moving average of $31.83 and a 200 day moving average of $32.49. The company has a quick ratio of 1.04, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 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 down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.37%. Astec Industries’s dividend payout ratio is presently -649.92%.

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.