Municipal Employees Retirement System of Michigan boosted its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 46.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,330 shares of the industrial products company’s stock after acquiring an additional 2,660 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Astec Industries were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. New York State Common Retirement Fund grew its stake in Astec Industries by 12.7% in the 3rd quarter. New York State Common Retirement Fund now owns 53,550 shares of the industrial products company’s stock valued at $2,999,000 after acquiring an additional 6,032 shares during the last quarter. Sei Investments Co. grew its stake in Astec Industries by 10,544.2% in the 3rd quarter. Sei Investments Co. now owns 11,070 shares of the industrial products company’s stock valued at $1,140,000 after acquiring an additional 10,966 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Astec Industries by 42.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,147 shares of the industrial products company’s stock valued at $568,000 after acquiring an additional 3,011 shares during the last quarter. Morgan Dempsey Capital Management LLC boosted its stake in shares of Astec Industries by 3.2% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 47,183 shares of the industrial products company’s stock worth $2,643,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Boston Partners acquired a new stake in shares of Astec Industries during the 3rd quarter worth about $1,971,000. 79.57% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on ASTE shares. TheStreet cut shares of Astec Industries from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $65.00 in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $75.00.

Shares of Astec Industries, Inc. (ASTE) opened at $54.50 on Thursday. Astec Industries, Inc. has a 12 month low of $45.70 and a 12 month high of $73.37. The stock has a market cap of $1,302.52, a PE ratio of 33.61, a price-to-earnings-growth ratio of 3.51 and a beta of 1.05.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The firm had revenue of $252.10 million for the quarter, compared to analyst estimates of $261.06 million. During the same period in the prior year, the business earned $0.30 earnings per share. Astec Industries’s revenue for the quarter was up 1.7% on a year-over-year basis. research analysts predict that Astec Industries, Inc. will post 1.61 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. Astec Industries’s dividend payout ratio is currently 23.81%.

ILLEGAL ACTIVITY NOTICE: This report was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was copied illegally and reposted in violation of international trademark and copyright law. The correct version of this report can be read at https://www.watchlistnews.com/municipal-employees-retirement-system-of-michigan-raises-position-in-astec-industries-inc-aste/1748919.html.

Astec Industries 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.

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

Receive News & Ratings for Astec Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.