UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 60,256 shares of the industrial products company’s stock after selling 840 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Astec Industries were worth $1,925,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ASTE. GAMMA Investing LLC boosted its stake in shares of Astec Industries by 69.8% in the third 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 period. Northwest Investment Counselors LLC purchased a new position in Astec Industries in the 3rd quarter worth approximately $72,000. nVerses Capital LLC boosted its stake 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 period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Astec Industries by 52.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company’s stock valued at $178,000 after buying an additional 2,056 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Astec Industries during the second quarter valued at approximately $225,000. Institutional investors own 93.16% of the company’s stock.

Analysts Set New Price Targets

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

Astec Industries Stock Down 0.5 %

Shares of ASTE opened at $37.10 on Monday. 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 $845.95 million, a price-to-earnings ratio of -463.75 and a beta of 1.30. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74. The business’s 50 day simple moving average is $35.09 and its 200-day simple moving average is $32.91.

Astec Industries (NASDAQ:ASTE) last released 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 0.15% and a positive return on equity of 7.69%. The company had revenue of $291.40 million for the quarter, compared to the consensus estimate of $312.90 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Astec Industries’s revenue was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Wednesday, November 13th. Astec Industries’s payout ratio is -650.00%.

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.