Wells Fargo & Company MN increased its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 20.2% in the 4th quarter, Holdings Channel reports. The firm owned 56,940 shares of the industrial products company’s stock after acquiring an additional 9,572 shares during the period. Wells Fargo & Company MN’s holdings in Astec Industries were worth $3,330,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Astec Industries by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 582,861 shares of the industrial products company’s stock worth $32,645,000 after purchasing an additional 28,977 shares during the last quarter. Stifel Financial Corp raised its position in Astec Industries by 40.9% in the 3rd quarter. Stifel Financial Corp now owns 31,008 shares of the industrial products company’s stock worth $1,736,000 after purchasing an additional 8,994 shares during the last quarter. Legal & General Group Plc raised its position in Astec Industries by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 58,174 shares of the industrial products company’s stock worth $3,260,000 after purchasing an additional 2,018 shares during the last quarter. National Investment Services Inc. WI bought a new position in Astec Industries in the 4th quarter worth approximately $447,000. Finally, Dean Investment Associates LLC raised its position in Astec Industries by 72.1% in the 3rd quarter. Dean Investment Associates LLC now owns 96,415 shares of the industrial products company’s stock worth $5,400,000 after purchasing an additional 40,395 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.
Several research firms recently weighed in on ASTE. BidaskClub cut shares of Astec Industries from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Dougherty & Co upgraded shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, February 21st. William Blair restated a “buy” rating on shares of Astec Industries in a research report on Tuesday, February 13th. Seaport Global Securities restated a “hold” rating on shares of Astec Industries in a research report on Tuesday, January 23rd. Finally, TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Astec Industries presently has an average rating of “Buy” and a consensus target price of $68.33.
Shares of Astec Industries stock opened at $54.17 on Friday. The firm has a market cap of $1,249.81, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 1.57 and a beta of 1.13. Astec Industries, Inc. has a 52 week low of $45.70 and a 52 week high of $66.66.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03). The business had revenue of $312.38 million for the quarter, compared to the consensus estimate of $288.14 million. Astec Industries had a net margin of 3.19% and a return on equity of 5.43%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. equities research analysts forecast that Astec Industries, Inc. will post 3.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, March 9th. Astec Industries’s payout ratio is 25.32%.
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Astec Industries 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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