Russell Investments Group Ltd. trimmed its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 20.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,880 shares of the industrial products company’s stock after selling 50,475 shares during the period. Russell Investments Group Ltd. owned about 0.85% of Astec Industries worth $6,215,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake 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 during the period. KBC Group NV grew its stake in Astec Industries by 208.7% in the second quarter. KBC Group NV now owns 5,627 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 3,804 shares during the period. Piedmont Investment Advisors Inc. acquired a new position in Astec Industries in the first quarter valued at about $217,000. SG Americas Securities LLC acquired a new position in Astec Industries in the first quarter valued at about $258,000. Finally, JPMorgan Chase & Co. grew its stake in Astec Industries by 14.7% in the second quarter. JPMorgan Chase & Co. now owns 7,382 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 946 shares during the period. 92.98% of the stock is owned by hedge funds and other institutional investors.
Shares of ASTE stock traded up $0.29 on Friday, hitting $32.32. 1,712 shares of the stock were exchanged, compared to its average volume of 111,569. The company has a current ratio of 3.21, a quick ratio of 1.13 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $696.77 million, a P/E ratio of 11.03 and a beta of 1.47. The business has a 50-day moving average of $29.41 and a 200 day moving average of $33.22. Astec Industries, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $52.88.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a dividend of $0.11 per share. The ex-dividend date was Friday, August 9th. This represents a $0.44 annualized dividend and a dividend yield of 1.36%. Astec Industries’s dividend payout ratio is currently 15.07%.
A number of research analysts have issued reports on the company. ValuEngine raised Astec Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 27th. BidaskClub raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Astec Industries presently has an average rating of “Hold” and a consensus price target of $41.00.
In other news, VP Stephen C. Anderson acquired 2,200 shares of Astec Industries stock in a transaction dated Thursday, August 29th. The stock was bought at an average cost of $27.75 per share, with a total value of $61,050.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jaco Van Der Merwe acquired 2,000 shares of Astec Industries stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average cost of $28.00 per share, with a total value of $56,000.00. Following the completion of the transaction, the insider now directly owns 6,579 shares of the company’s stock, valued at $184,212. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.
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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