6,828 Shares in Astec Industries, Inc. (ASTE) Purchased by SG Americas Securities LLC
SG Americas Securities LLC acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the first quarter, Holdings Channel reports. The institutional investor acquired 6,828 shares of the industrial products company’s stock, valued at approximately $258,000.
Several other large investors also recently added to or reduced their stakes in ASTE. Covington Capital Management bought a new position in Astec Industries in the 4th quarter worth about $32,000. PNC Financial Services Group Inc. increased its stake in Astec Industries by 29.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 391 shares during the last quarter. Bessemer Group Inc. bought a new position in Astec Industries in the 4th quarter worth about $54,000. Quantamental Technologies LLC bought a new position in Astec Industries in the 4th quarter worth about $59,000. Finally, Public Employees Retirement System of Ohio increased its stake in Astec Industries by 18.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 297 shares during the last quarter. Institutional investors own 92.93% of the company’s stock.
In other news, insider Jaco Van Der Merwe acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $32.75 per share, for a total transaction of $65,500.00. Following the acquisition, the insider now owns 4,579 shares of the company’s stock, valued at $149,962.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
Astec Industries (NASDAQ:ASTE) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). The business had revenue of $325.78 million during the quarter, compared to the consensus estimate of $338.68 million. Astec Industries had a positive return on equity of 9.53% and a negative net margin of 5.67%. Astec Industries’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Research analysts forecast that Astec Industries, Inc. will post 2.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, May 14th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, May 13th. Astec Industries’s payout ratio is currently 15.07%.
A number of equities analysts have weighed in on the company. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Robert W. Baird upped their target price on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $52.00.
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Astec Industries 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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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