Advisors Asset Management Inc. Purchases 5,668 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Advisors Asset Management Inc. boosted its position in Astec Industries, Inc. (NASDAQ:ASTE) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,580 shares of the industrial products company’s stock after buying an additional 5,668 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.34% of Astec Industries worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ASTE. GAMMA Investing LLC increased its holdings in Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 458 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Astec Industries in the first quarter worth about $66,000. Northwest Investment Counselors LLC bought a new stake in shares of Astec Industries in the third quarter valued at approximately $72,000. SG Americas Securities LLC purchased a new stake in shares of Astec Industries during the 1st quarter valued at approximately $116,000. Finally, nVerses Capital LLC boosted its holdings in Astec Industries by 425.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock worth $134,000 after buying an additional 3,400 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $38.25 on Friday. The company has a 50 day moving average of $33.07 and a 200 day moving average of $32.45. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock has a market cap of $872.10 million, a P/E ratio of -478.07 and a beta of 1.26. Astec Industries, Inc. has a 12 month low of $28.46 and a 12 month high of $44.74.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 million. During the same period in the previous year, the business earned ($0.01) EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.36%. Astec Industries’s payout ratio is currently -649.92%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ASTE shares. Robert W. Baird boosted their target price on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 11th.

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.