Astec Industries, Inc. $ASTE Stock Position Reduced by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,102 shares of the industrial products company’s stock after selling 8,856 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.57% of Astec Industries worth $5,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in shares of Astec Industries by 7.7% during the second quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock worth $567,000 after acquiring an additional 977 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Astec Industries by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 113,556 shares of the industrial products company’s stock worth $3,912,000 after purchasing an additional 2,983 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Astec Industries by 5.4% during the 1st quarter. Russell Investments Group Ltd. now owns 96,932 shares of the industrial products company’s stock worth $3,339,000 after purchasing an additional 5,000 shares in the last quarter. CWM LLC lifted its holdings in shares of Astec Industries by 264.6% during the 1st quarter. CWM LLC now owns 2,483 shares of the industrial products company’s stock valued at $86,000 after buying an additional 1,802 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Astec Industries by 98.8% in the 1st quarter. American Century Companies Inc. now owns 361,390 shares of the industrial products company’s stock valued at $12,450,000 after buying an additional 179,618 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Price Performance

NASDAQ ASTE opened at $47.82 on Tuesday. The company has a market cap of $1.09 billion, a P/E ratio of 24.03, a P/E/G ratio of 2.35 and a beta of 1.43. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $50.83. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $46.97 and a 200 day simple moving average of $42.14.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.28. The firm had revenue of $330.30 million during the quarter, compared to analyst estimates of $361.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th will be paid a $0.13 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Astec Industries’s dividend payout ratio (DPR) is presently 26.13%.

Insider Transactions at Astec Industries

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $47.22, for a total value of $117,955.56. Following the completion of the sale, the insider directly owned 15,559 shares of the company’s stock, valued at $734,695.98. This represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ASTE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Astec Industries Company Profile

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.