Verus Capital Partners LLC Has $204,000 Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

Verus Capital Partners LLC reduced its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,400 shares of the industrial products company’s stock after selling 3,200 shares during the quarter. Verus Capital Partners LLC’s holdings in Astec Industries were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 458 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Astec Industries in the first quarter valued at approximately $66,000. Northwest Investment Counselors LLC bought a new position in Astec Industries in the third quarter valued at approximately $72,000. SG Americas Securities LLC bought a new stake in shares of Astec Industries during the 1st quarter valued at $116,000. Finally, nVerses Capital LLC boosted its position in shares of Astec Industries by 425.0% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ASTE shares. Robert W. Baird increased their target price on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday.

Astec Industries Stock Performance

ASTE stock opened at $37.51 on Thursday. Astec Industries, Inc. has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a market cap of $855.23 million, a PE ratio of -468.82 and a beta of 1.26. The business’s 50-day moving average price is $32.18 and its two-hundred day moving average price is $32.39.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The business had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $312.90 million. During the same quarter in the previous year, the business posted ($0.01) EPS. Astec Industries’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 13th. Astec Industries’s dividend payout ratio is -649.92%.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.