Wilmington Savings Fund Society FSB Invests $49,000 in Astec Industries, Inc. (NASDAQ:ASTE)

Wilmington Savings Fund Society FSB acquired a new stake in Astec Industries, Inc. (NASDAQ:ASTE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,523 shares of the industrial products company’s stock, valued at approximately $49,000.

A number of other hedge funds also recently added to or reduced their stakes in ASTE. Virtu Financial LLC bought a new stake in shares of Astec Industries in the 3rd quarter valued at about $218,000. Barclays PLC increased its holdings in Astec Industries by 118.9% during the third quarter. Barclays PLC now owns 40,529 shares of the industrial products company’s stock valued at $1,294,000 after buying an additional 22,017 shares during the period. Geode Capital Management LLC raised its stake in Astec Industries by 4.2% in the third quarter. Geode Capital Management LLC now owns 569,089 shares of the industrial products company’s stock worth $18,180,000 after buying an additional 22,743 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Astec Industries by 78.6% during the third quarter. Public Employees Retirement System of Ohio now owns 20,514 shares of the industrial products company’s stock worth $655,000 after buying an additional 9,025 shares during the period. Finally, Jane Street Group LLC boosted its position in Astec Industries by 25.8% during the 3rd quarter. Jane Street Group LLC now owns 47,929 shares of the industrial products company’s stock valued at $1,531,000 after acquiring an additional 9,841 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Stock Down 2.3 %

Astec Industries stock opened at $33.29 on Friday. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $44.74. The business has a fifty day moving average price of $35.49 and a 200-day moving average price of $33.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The stock has a market capitalization of $759.08 million, a price-to-earnings ratio of -416.07 and a beta of 1.30.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. Astec Industries’s payout ratio is -650.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ASTE shares. StockNews.com cut Astec Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird increased their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

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.