Astec Industries, Inc. (NASDAQ:ASTE) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 23.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,654 shares of the industrial products company’s stock after purchasing an additional 41,130 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Astec Industries were worth $6,888,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after buying an additional 458 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Astec Industries during the third quarter valued at approximately $64,000. Northwest Investment Counselors LLC bought a new stake in shares of Astec Industries during the 3rd quarter worth about $72,000. nVerses Capital LLC lifted its holdings in shares of Astec Industries by 425.0% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock valued at $134,000 after buying an additional 3,400 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Astec Industries by 52.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 2,056 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Stock Down 3.1 %

Shares of NASDAQ:ASTE opened at $37.99 on Friday. Astec Industries, Inc. has a 52 week low of $28.46 and a 52 week high of $44.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The company has a market capitalization of $866.17 million, a PE ratio of -474.82 and a beta of 1.30. The company has a 50 day moving average price of $34.30 and a two-hundred day moving average price of $32.72.

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

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is presently -649.92%.

Analyst Ratings Changes

Several research firms have recently commented on ASTE. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird raised their price target on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Astec Industries Profile

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.