Public Sector Pension Investment Board Lowers Position in Astec Industries, Inc. (NASDAQ:ASTE)

Public Sector Pension Investment Board trimmed its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,409 shares of the industrial products company’s stock after selling 1,700 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.21% of Astec Industries worth $1,546,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 458 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Astec Industries during the 3rd quarter worth approximately $72,000. nVerses Capital LLC lifted its position in shares of Astec Industries by 425.0% during the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock valued at $134,000 after buying an additional 3,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Astec Industries by 52.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company’s stock valued at $178,000 after acquiring an additional 2,056 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Astec Industries in the 2nd quarter worth $225,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Down 0.8 %

NASDAQ ASTE opened at $37.67 on Friday. The business has a fifty day moving average price of $34.42 and a 200 day moving average price of $32.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The company has a market cap of $858.95 million, a P/E ratio of -470.88 and a beta of 1.30. Astec Industries, Inc. has a one year low of $28.46 and a one year high of $44.74.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $291.40 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.01) earnings per share.

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is -650.00%.

Analysts Set New Price Targets

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

Astec Industries 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.