Easterly Investment Partners LLC Has $1.30 Million Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

Easterly Investment Partners LLC lifted its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 89.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,631 shares of the industrial products company’s stock after purchasing an additional 19,134 shares during the period. Easterly Investment Partners LLC’s holdings in Astec Industries were worth $1,298,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Astec Industries by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,538,684 shares of the industrial products company’s stock worth $45,637,000 after buying an additional 29,421 shares in the last quarter. Gabelli Funds LLC increased its position in Astec Industries by 7.7% in the second quarter. Gabelli Funds LLC now owns 581,500 shares of the industrial products company’s stock worth $17,247,000 after purchasing an additional 41,800 shares during the period. First Eagle Investment Management LLC raised its holdings in Astec Industries by 6.3% during the 1st quarter. First Eagle Investment Management LLC now owns 236,251 shares of the industrial products company’s stock worth $10,327,000 after purchasing an additional 14,000 shares during the last quarter. SG Capital Management LLC lifted its position in Astec Industries by 100.8% during the 1st quarter. SG Capital Management LLC now owns 209,685 shares of the industrial products company’s stock valued at $9,165,000 after purchasing an additional 105,280 shares during the period. Finally, Peregrine Capital Management LLC boosted its stake in shares of Astec Industries by 41.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 175,738 shares of the industrial products company’s stock valued at $5,212,000 after purchasing an additional 51,141 shares during the last quarter. 93.16% of the stock is owned by institutional investors.

Astec Industries Trading Up 1.9 %

NASDAQ:ASTE opened at $37.82 on Friday. The firm has a market capitalization of $862.33 million, a price-to-earnings ratio of -472.75 and a beta of 1.26. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $44.74. The business’s 50-day moving average price is $31.83 and its two-hundred day moving average price is $32.56. The company has a current ratio of 2.50, a quick ratio of 1.04 and a debt-to-equity ratio of 0.20.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. The company had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. During the same period last year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.37%. Astec Industries’s payout ratio is -650.00%.

Wall Street Analyst Weigh In

Separately, 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.

About Astec Industries

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.