Point72 Asia Singapore Pte. Ltd. Buys New Position in Astec Industries, Inc. (NASDAQ:ASTE)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Astec Industries, Inc. (NASDAQ:ASTE) in the third quarter, HoldingsChannel.com reports. The firm purchased 2,007 shares of the industrial products company’s stock, valued at approximately $64,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASTE. PDT Partners LLC acquired a new position in shares of Astec Industries during the third quarter worth $754,000. Verition Fund Management LLC purchased a new position in Astec Industries in the 3rd quarter valued at about $236,000. John G Ullman & Associates Inc. grew its stake in shares of Astec Industries by 64.3% during the third quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company’s stock valued at $4,290,000 after acquiring an additional 52,571 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Astec Industries during the third quarter worth about $319,000. Finally, Advisors Asset Management Inc. increased its position in shares of Astec Industries by 7.9% during the third quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company’s stock worth $2,478,000 after acquiring an additional 5,668 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Performance

Shares of ASTE stock opened at $37.67 on Friday. The stock has a market capitalization of $858.95 million, a price-to-earnings ratio of -470.88 and a beta of 1.30. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $44.74. The company’s 50-day simple moving average is $34.42 and its 200-day simple moving average is $32.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47.

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

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.52 annualized dividend and a yield of 1.38%. Astec Industries’s payout ratio is -650.00%.

Analyst Ratings Changes

ASTE has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.