GAM Holding AG Holds Stake in Astec Industries, Inc. (ASTE)
GAM Holding AG held its position in Astec Industries, Inc. (NASDAQ:ASTE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,500 shares of the industrial products company’s stock at the close of the second quarter. GAM Holding AG’s holdings in Astec Industries were worth $139,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan lifted its holdings in Astec Industries by 2.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 140 shares in the last quarter. First Trust Advisors LP lifted its holdings in Astec Industries by 21.1% in the 1st quarter. First Trust Advisors LP now owns 29,141 shares of the industrial products company’s stock worth $1,792,000 after purchasing an additional 5,077 shares in the last quarter. Karp Capital Management Corp purchased a new position in Astec Industries in the 1st quarter worth approximately $339,000. JPMorgan Chase & Co. lifted its holdings in Astec Industries by 471.1% in the 1st quarter. JPMorgan Chase & Co. now owns 43,944 shares of the industrial products company’s stock worth $2,703,000 after purchasing an additional 36,249 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Astec Industries by 137.9% in the 1st quarter. Prudential Financial Inc. now owns 113,487 shares of the industrial products company’s stock worth $6,979,000 after purchasing an additional 65,792 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on ASTE shares. Dougherty & Co cut Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a report on Wednesday, July 26th. BidaskClub cut Astec Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 21st.
Astec Industries, Inc. (ASTE) opened at 48.68 on Friday. Astec Industries, Inc. has a 12-month low of $45.70 and a 12-month high of $73.37. The stock has a market capitalization of $1.12 billion, a PE ratio of 23.17 and a beta of 1.10. The company has a 50-day moving average price of $48.48 and a 200-day moving average price of $56.69.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.80 by $0.18. Astec Industries had a net margin of 4.08% and a return on equity of 7.40%. The business had revenue of $301.90 million during the quarter, compared to analyst estimates of $314.31 million. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Analysts expect that Astec Industries, Inc. will post $2.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Friday, August 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, August 9th. Astec Industries’s payout ratio is currently 19.05%.
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About Astec Industries
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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