Point72 Asset Management L.P. Purchases Shares of 1,400 Astec Industries, Inc. (NASDAQ:ASTE)

Point72 Asset Management L.P. purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,400 shares of the industrial products company’s stock, valued at approximately $45,000.

A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Astec Industries by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,538,684 shares of the industrial products company’s stock worth $45,637,000 after acquiring an additional 29,421 shares during the period. Gabelli Funds LLC grew its stake in shares of Astec Industries by 7.7% during the 2nd quarter. Gabelli Funds LLC now owns 581,500 shares of the industrial products company’s stock worth $17,247,000 after purchasing an additional 41,800 shares during the period. Harvey Partners LLC increased its holdings in shares of Astec Industries by 101.4% during the 3rd quarter. Harvey Partners LLC now owns 282,000 shares of the industrial products company’s stock valued at $9,007,000 after purchasing an additional 142,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Astec Industries by 23.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 215,654 shares of the industrial products company’s stock valued at $6,888,000 after purchasing an additional 41,130 shares during the period. Finally, Peregrine Capital Management LLC boosted its holdings in Astec Industries by 41.0% during the second quarter. Peregrine Capital Management LLC now owns 175,738 shares of the industrial products company’s stock worth $5,212,000 after buying an additional 51,141 shares in the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Price Performance

Astec Industries stock opened at $37.10 on Friday. The stock has a market capitalization of $845.88 million, a P/E ratio of -463.69 and a beta of 1.30. The company’s fifty day moving average price is $35.09 and its 200 day moving average price is $32.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) earnings per share.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. Astec Industries’s payout ratio is currently -649.92%.

Analysts Set New Price Targets

ASTE has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com cut Astec Industries from a “buy” rating to a “hold” rating in a report on Wednesday.

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.