State of Alaska Department of Revenue reduced its position in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 8.4% in the 3rd quarter, Holdings Channel reports. The firm owned 15,830 shares of the industrial products company’s stock after selling 1,447 shares during the quarter. State of Alaska Department of Revenue’s holdings in Astec Industries were worth $493,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System purchased a new stake in Astec Industries in the 3rd quarter valued at $340,000. Moody National Bank Trust Division purchased a new stake in Astec Industries in the 3rd quarter valued at $317,000. Federated Hermes Inc. purchased a new stake in Astec Industries in the 2nd quarter valued at $1,746,000. Legal & General Group Plc grew its holdings in Astec Industries by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 66,871 shares of the industrial products company’s stock valued at $2,726,000 after buying an additional 687 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Astec Industries by 21.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 22,441 shares of the industrial products company’s stock valued at $915,000 after buying an additional 3,909 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Astec Industries in a report on Wednesday, October 12th. They issued a “hold” rating for the company.
Astec Industries Trading Up 0.8 %
Astec Industries (NASDAQ:ASTE – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The business had revenue of $315.20 million for the quarter, compared to analysts’ expectations of $301.93 million. Astec Industries had a positive return on equity of 3.01% and a negative net margin of 0.70%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. Research analysts predict that Astec Industries, Inc. will post 1.31 EPS for the current year.
Astec Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Monday, November 14th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.34%. This is a positive change from Astec Industries’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, November 10th. Astec Industries’s dividend payout ratio (DPR) is presently -144.44%.
Astec Industries Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.
- Get a free copy of the StockNews.com research report on Astec Industries (ASTE)
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