State of Wisconsin Investment Board decreased its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,000 shares of the industrial products company’s stock after selling 14,500 shares during the quarter. State of Wisconsin Investment Board owned about 0.36% of Astec Industries worth $4,635,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Global X Management Co. LLC grew its position in shares of Astec Industries by 316.7% during the 1st quarter. Global X Management Co. LLC now owns 4,667 shares of the industrial products company’s stock worth $258,000 after buying an additional 3,547 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Astec Industries during the 4th quarter worth approximately $365,000. Teacher Retirement System of Texas acquired a new stake in shares of Astec Industries during the 4th quarter worth approximately $393,000. UBS Asset Management Americas Inc. grew its position in shares of Astec Industries by 100.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 7,492 shares of the industrial products company’s stock worth $438,000 after buying an additional 3,760 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Astec Industries by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 9,055 shares of the industrial products company’s stock worth $500,000 after buying an additional 1,491 shares during the period. Institutional investors own 89.08% of the company’s stock.
Astec Industries stock opened at $57.88 on Friday. Astec Industries, Inc. has a fifty-two week low of $45.70 and a fifty-two week high of $64.80. The company has a market cap of $1.34 billion, a P/E ratio of 32.34, a PEG ratio of 1.71 and a beta of 1.15.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The business had revenue of $325.50 million for the quarter, compared to analyst estimates of $336.32 million. During the same quarter last year, the firm earned $0.65 EPS. Astec Industries’s quarterly revenue was up 2.2% compared to the same quarter last year. analysts forecast that Astec Industries, Inc. will post 3.39 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 30th. Investors of record on Monday, May 14th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, May 11th. Astec Industries’s payout ratio is 25.32%.
In related news, CEO Benjamin G. Brock sold 22,439 shares of Astec Industries stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $54.71, for a total transaction of $1,227,637.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.
Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. ValuEngine upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Stifel Nicolaus reduced their price objective on shares of Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, April 25th. Robert W. Baird reissued a “buy” rating and set a $64.00 price objective on shares of Astec Industries in a research note on Friday, April 13th. Finally, Dougherty & Co raised shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.25.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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