Y Intercept Hong Kong Ltd Invests $1.33 Million in Astec Industries, Inc. $ASTE

Y Intercept Hong Kong Ltd bought a new position in Astec Industries, Inc. (NASDAQ:ASTE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,985 shares of the industrial products company’s stock, valued at approximately $1,333,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in Astec Industries by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 274 shares in the last quarter. Tompkins Financial Corp boosted its stake in Astec Industries by 30.0% in the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 300 shares in the last quarter. US Bancorp DE boosted its stake in Astec Industries by 4.1% in the 1st quarter. US Bancorp DE now owns 8,326 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 327 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Astec Industries in the 2nd quarter worth about $27,000. Finally, State of Alaska Department of Revenue boosted its stake in Astec Industries by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock worth $567,000 after purchasing an additional 977 shares in the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Astec Industries

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASTE. Weiss Ratings reiterated a “hold (c+)” rating on shares of Astec Industries in a research note on Thursday. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.00.

Astec Industries Price Performance

ASTE opened at $46.53 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71. The stock has a market capitalization of $1.06 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.32 and a beta of 1.43. The company’s 50-day simple moving average is $47.17 and its two-hundred day simple moving average is $42.57. Astec Industries, Inc. has a 52-week low of $29.65 and a 52-week high of $50.83.

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

Astec Industries Announces Dividend

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

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.