Morgan Stanley boosted its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,600 shares of the industrial products company’s stock after buying an additional 6,034 shares during the period. Morgan Stanley’s holdings in Astec Industries were worth $8,462,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Astec Industries during the first quarter worth about $103,000. State of Alaska Department of Revenue raised its position in Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock worth $129,000 after buying an additional 40 shares during the last quarter. Quantbot Technologies LP raised its position in Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,144 shares during the last quarter. Acrospire Investment Management LLC raised its position in Astec Industries by 7.0% in the first quarter. Acrospire Investment Management LLC now owns 2,789 shares of the industrial products company’s stock worth $172,000 after buying an additional 183 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Astec Industries during the fourth quarter worth about $206,000. 79.36% of the stock is currently owned by institutional investors.
Astec Industries, Inc. (NASDAQ ASTE) opened at 50.07 on Monday. Astec Industries, Inc. has a 12-month low of $47.34 and a 12-month high of $73.37. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 23.83 and a beta of 1.11. The stock has a 50 day moving average price of $55.37 and a 200-day moving average price of $61.20.
Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.18. The company had revenue of $301.90 million during the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a return on equity of 7.40% and a net margin of 4.08%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Equities analysts forecast that Astec Industries, Inc. will post $2.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Friday, August 11th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, August 9th. Astec Industries’s dividend payout ratio (DPR) is 19.05%.
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A number of research analysts have recently issued reports on the company. Dougherty & Co lowered Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a report on Wednesday, July 26th. BidaskClub lowered Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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