Dean Capital Management bought a new position in Astec Industries, Inc. (NASDAQ:ASTE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,520 shares of the industrial products company’s stock, valued at approximately $2,027,000. Dean Capital Management owned about 0.16% of Astec Industries at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASTE. Wells Fargo & Company MN grew its position in Astec Industries by 60.1% in the 1st quarter. Wells Fargo & Company MN now owns 38,239 shares of the industrial products company’s stock worth $2,351,000 after purchasing an additional 14,354 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Astec Industries by 17.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,990 shares of the industrial products company’s stock worth $983,000 after purchasing an additional 2,346 shares during the last quarter. First Trust Advisors LP grew its position in Astec Industries by 21.1% in the 1st quarter. First Trust Advisors LP now owns 29,141 shares of the industrial products company’s stock worth $1,792,000 after purchasing an additional 5,077 shares during the last quarter. Comerica Bank grew its position in Astec Industries by 4.3% in the 1st quarter. Comerica Bank now owns 21,204 shares of the industrial products company’s stock worth $1,353,000 after purchasing an additional 865 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Astec Industries in the 1st quarter worth about $339,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.
Several research analysts have commented on ASTE shares. BidaskClub cut shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Dougherty & Co cut shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $56.00 to $65.00 in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Astec Industries presently has an average rating of “Hold” and an average target price of $75.00.
Astec Industries, Inc. (NASDAQ ASTE) traded up 0.06% on Friday, hitting $52.20. 21,428 shares of the stock traded hands. The stock has a 50-day moving average price of $51.43 and a 200 day moving average price of $55.01. Astec Industries, Inc. has a 12-month low of $45.70 and a 12-month high of $73.37. The stock has a market cap of $1.20 billion, a P/E ratio of 24.85 and a beta of 1.11.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.18). Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The business had revenue of $301.90 million for the quarter, compared to analyst estimates of $314.31 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts expect that Astec Industries, Inc. will post $2.01 EPS for the current fiscal year.
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Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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