Suntrust Banks Inc. decreased its position in Astec Industries, Inc. (NASDAQ:ASTE) by 24.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,204 shares of the industrial products company’s stock after selling 1,360 shares during the period. Suntrust Banks Inc.’s holdings in Astec Industries were worth $245,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ASTE. 1060 Capital LLC bought a new position in shares of Astec Industries in the third quarter worth approximately $37,991,000. Penn Capital Management Co. Inc. bought a new position in shares of Astec Industries in the fourth quarter worth approximately $13,684,000. Granite Investment Partners LLC bought a new position in shares of Astec Industries in the third quarter worth approximately $11,430,000. Heartland Advisors Inc. bought a new position in shares of Astec Industries in the fourth quarter worth approximately $8,696,000. Finally, Royce & Associates LP grew its holdings in shares of Astec Industries by 51.1% in the third quarter. Royce & Associates LP now owns 372,063 shares of the industrial products company’s stock worth $20,839,000 after purchasing an additional 125,900 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.
Several brokerages have recently issued reports on ASTE. BidaskClub cut shares of Astec Industries from a “hold” rating to a “sell” rating in a 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 target price on the stock in a report on Wednesday, February 21st. William Blair restated a “buy” rating on shares of Astec Industries in a report on Tuesday, February 13th. Seaport Global Securities reiterated a “hold” rating on shares of Astec Industries in a report on Tuesday, January 23rd. Finally, TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Astec Industries presently has an average rating of “Buy” and a consensus target price of $68.33.
ASTE stock traded up $0.46 during trading hours on Friday, reaching $59.22. 278,660 shares of the company traded hands, compared to its average volume of 152,537. The company has a market capitalization of $1,366.32, a PE ratio of 36.56, a P/E/G ratio of 1.71 and a beta of 1.07. Astec Industries, Inc. has a twelve month low of $45.70 and a twelve month high of $66.66.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $312.38 million during 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 last year, the firm earned $0.53 EPS. sell-side analysts forecast that Astec Industries, Inc. will post 3.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, March 9th. Astec Industries’s dividend payout ratio (DPR) is presently 24.69%.
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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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