Comerica Bank Acquires 573 Shares of Astec Industries, Inc. (ASTE)
Comerica Bank grew its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,668 shares of the industrial products company’s stock after buying an additional 573 shares during the period. Comerica Bank’s holdings in Astec Industries were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. John G Ullman & Associates Inc. raised its holdings in Astec Industries by 73.2% in the first quarter. John G Ullman & Associates Inc. now owns 129,200 shares of the industrial products company’s stock valued at $4,878,000 after acquiring an additional 54,600 shares in the last quarter. Quantamental Technologies LLC raised its holdings in Astec Industries by 40.6% in the first quarter. Quantamental Technologies LLC now owns 2,734 shares of the industrial products company’s stock valued at $103,000 after acquiring an additional 790 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Astec Industries in the first quarter valued at approximately $258,000. BNP Paribas Arbitrage SA raised its holdings in Astec Industries by 361.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,198 shares of the industrial products company’s stock valued at $196,000 after acquiring an additional 4,071 shares in the last quarter. Finally, Redmond Asset Management LLC raised its holdings in Astec Industries by 6.9% in the first quarter. Redmond Asset Management LLC now owns 7,247 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 470 shares in the last quarter. Institutional investors and hedge funds own 92.93% of the company’s stock.
ASTE stock opened at $29.31 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.10 and a current ratio of 3.02. Astec Industries, Inc. has a twelve month low of $27.86 and a twelve month high of $63.69. The company has a market cap of $663.08 million, a price-to-earnings ratio of 11.45 and a beta of 1.46.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.44 dividend on an annualized basis and a yield of 1.50%. Astec Industries’s payout ratio is currently 15.07%.
In related news, insider Jaco Van Der Merwe acquired 2,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $32.75 per share, with a total value of $65,500.00. Following the completion of the acquisition, the insider now owns 4,579 shares in the company, valued at $149,962.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the stock. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Robert W. Baird raised their target price on shares of Astec Industries from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, ValuEngine raised shares of Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.00.
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About Astec Industries
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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