State of Wyoming Takes $711,000 Position in Astec Industries, Inc. $ASTE

State of Wyoming purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,612 shares of the industrial products company’s stock, valued at approximately $711,000. State of Wyoming owned about 0.05% of Astec Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Astec Industries in the second quarter worth $910,000. Assenagon Asset Management S.A. grew its stake in Astec Industries by 2,165.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 146,796 shares of the industrial products company’s stock valued at $8,982,000 after purchasing an additional 140,315 shares during the period. Bank of America Corp DE increased its position in shares of Astec Industries by 64.3% during the 1st quarter. Bank of America Corp DE now owns 93,365 shares of the industrial products company’s stock valued at $5,027,000 after purchasing an additional 36,526 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Astec Industries by 41.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,703 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 2,849 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Astec Industries during the 1st quarter worth $510,000. 93.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ASTE shares. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Zacks Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Astec Industries Price Performance

Astec Industries stock opened at $43.28 on Monday. The firm has a market capitalization of $996.31 million, a price-to-earnings ratio of 50.92, a P/E/G ratio of 1.17 and a beta of 1.36. The firm has a 50 day simple moving average of $53.49 and a 200 day simple moving average of $54.58. Astec Industries, Inc. has a 1-year low of $40.47 and a 1-year high of $65.69. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.The company had revenue of $408.10 million during the quarter, compared to the consensus estimate of $405.50 million. During the same period in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that Astec Industries, Inc. will post 3.36 earnings per share for the current year.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be paid a $0.13 dividend. The ex-dividend date is Monday, August 10th. This represents a $0.52 annualized dividend and a yield of 1.2%. Astec Industries’s dividend payout ratio (DPR) is currently 61.18%.

Astec Industries Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.