Northwest Investment Counselors LLC Invests $72,000 in Astec Industries, Inc. (NASDAQ:ASTE)

Northwest Investment Counselors LLC acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,250 shares of the industrial products company’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted 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 bought a new stake in Astec Industries in the 1st quarter valued at about $66,000. Central Pacific Bank Trust Division bought a new stake in Astec Industries in the 1st quarter valued at about $85,000. SG Americas Securities LLC acquired a new position in Astec Industries during the 1st quarter valued at about $116,000. Finally, nVerses Capital LLC grew its position in Astec Industries by 425.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Stock Performance

ASTE opened at $31.62 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.04 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $31.90 and its 200-day moving average is $33.40. The stock has a market cap of $719.83 million, a PE ratio of 29.01 and a beta of 1.27. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74.

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

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a $0.13 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.64%. Astec Industries’s dividend payout ratio is presently 47.71%.

Astec Industries Company 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.