Nisa Investment Advisors LLC Acquires 150 Shares of Astec Industries, Inc. (ASTE)
Nisa Investment Advisors LLC raised its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,260 shares of the industrial products company’s stock after buying an additional 150 shares during the period. Nisa Investment Advisors LLC’s holdings in Astec Industries were worth $292,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ASTE. Ameritas Investment Partners Inc. acquired a new position in Astec Industries during the first quarter valued at about $103,000. State of Alaska Department of Revenue raised its position in Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock valued at $129,000 after buying an additional 40 shares during the period. Quantbot Technologies LP raised its position in Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,144 shares during the period. Acrospire Investment Management LLC raised its position in Astec Industries by 7.0% in the first quarter. Acrospire Investment Management LLC now owns 2,789 shares of the industrial products company’s stock valued at $172,000 after buying an additional 183 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Astec Industries during the fourth quarter valued at about $206,000. 79.63% of the stock is owned by hedge funds and other institutional investors.
Astec Industries, Inc. (NASDAQ:ASTE) traded up 1.14% on Friday, reaching $46.93. 276,763 shares of the company traded hands. The firm has a market cap of $1.08 billion, a P/E ratio of 22.34 and a beta of 1.09. The stock has a 50-day moving average price of $52.57 and a 200-day moving average price of $59.87. Astec Industries, Inc. has a 52-week low of $45.76 and a 52-week high of $73.37.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.18. The business had revenue of $301.90 million during the quarter, compared to the consensus estimate of $314.31 million. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. Analysts anticipate that Astec Industries, Inc. will post $2.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, August 9th. Astec Industries’s dividend payout ratio is currently 19.05%.
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Several research firms recently issued reports on ASTE. Dougherty & Co lowered shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a research report on Wednesday, July 26th. BidaskClub lowered shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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