Public Employees Retirement System of Ohio lifted its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 18.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,949 shares of the industrial products company’s stock after purchasing an additional 297 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Astec Industries were worth $59,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ASTE. BlackRock Inc. boosted its position in shares of Astec Industries by 17.1% in the 3rd quarter. BlackRock Inc. now owns 3,264,050 shares of the industrial products company’s stock worth $164,541,000 after purchasing an additional 477,601 shares in the last quarter. Investment Counselors of Maryland LLC boosted its position in shares of Astec Industries by 317.8% in the 4th quarter. Investment Counselors of Maryland LLC now owns 469,275 shares of the industrial products company’s stock worth $14,167,000 after purchasing an additional 356,956 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Astec Industries by 288.6% in the 4th quarter. California Public Employees Retirement System now owns 178,943 shares of the industrial products company’s stock worth $5,402,000 after purchasing an additional 132,899 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Astec Industries by 101.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 221,729 shares of the industrial products company’s stock worth $6,694,000 after acquiring an additional 111,410 shares during the last quarter. Finally, Royce & Associates LP raised its holdings in Astec Industries by 20.7% in the 4th quarter. Royce & Associates LP now owns 538,348 shares of the industrial products company’s stock worth $16,253,000 after acquiring an additional 92,200 shares during the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on ASTE shares. ValuEngine upgraded shares of Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Robert W. Baird boosted their price objective on shares of Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Finally, Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $52.00.
Shares of NASDAQ ASTE opened at $41.73 on Friday. Astec Industries, Inc. has a twelve month low of $27.86 and a twelve month high of $63.69. The company has a market capitalization of $939.68 million, a P/E ratio of 14.29 and a beta of 1.52. The company has a quick ratio of 1.08, a current ratio of 2.96 and a debt-to-equity ratio of 0.10.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Friday, March 1st. The industrial products company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.01). Astec Industries had a positive return on equity of 10.05% and a negative net margin of 5.16%. The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $314.98 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Astec Industries’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that Astec Industries, Inc. will post 3.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 12th were issued a $0.11 dividend. The ex-dividend date was Monday, March 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.05%. Astec Industries’s payout ratio is currently 15.07%.
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Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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