Granite Investment Partners LLC purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 204,066 shares of the industrial products company’s stock, valued at approximately $11,430,000. Granite Investment Partners LLC owned about 0.88% of Astec Industries at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund increased its holdings in shares of Astec Industries by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 13,974 shares of the industrial products company’s stock worth $776,000 after buying an additional 125 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Astec Industries by 2.5% during 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 buying an additional 140 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Astec Industries by 2.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,260 shares of the industrial products company’s stock worth $292,000 after buying an additional 150 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Astec Industries by 11.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after buying an additional 198 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Astec Industries by 17.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,938 shares of the industrial products company’s stock worth $108,000 after buying an additional 289 shares during the last quarter. Institutional investors and hedge funds own 80.45% of the company’s stock.

ASTE has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Dougherty & Co downgraded shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 target price for the company. in a report on Wednesday, July 26th. TheStreet downgraded shares of Astec Industries from a “b” rating to a “c+” rating in a report on Tuesday, October 24th. Finally, Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $56.00 to $65.00 in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $75.00.

Astec Industries, Inc. (NASDAQ ASTE) traded up $1.58 during trading on Tuesday, reaching $54.86. 181,000 shares of the company traded hands, compared to its average volume of 146,151. Astec Industries, Inc. has a 12-month low of $45.70 and a 12-month high of $73.37. The firm has a market cap of $1,250.00, a P/E ratio of 31.71, a PEG ratio of 3.31 and a beta of 1.03.

Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The company had revenue of $252.10 million during the quarter, compared to analyst estimates of $261.06 million. During the same quarter last year, the business posted $0.30 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts predict that Astec Industries, Inc. will post 1.61 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.40 annualized dividend and a yield of 0.73%. Astec Industries’s dividend payout ratio (DPR) is presently 23.67%.

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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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Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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