Redmond Asset Management LLC raised its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 6.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,247 shares of the industrial products company’s stock after acquiring an additional 470 shares during the period. Redmond Asset Management LLC’s holdings in Astec Industries were worth $274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Astec Industries by 17.1% in the third quarter. BlackRock Inc. now owns 3,264,050 shares of the industrial products company’s stock valued at $164,541,000 after purchasing an additional 477,601 shares in the last quarter. Investment Counselors of Maryland LLC grew its holdings in shares of Astec Industries by 317.8% in the fourth quarter. Investment Counselors of Maryland LLC now owns 469,275 shares of the industrial products company’s stock valued at $14,167,000 after purchasing an additional 356,956 shares in the last quarter. Norges Bank purchased a new position in shares of Astec Industries in the fourth quarter valued at $8,478,000. California Public Employees Retirement System grew its holdings in shares of Astec Industries by 288.6% in the fourth quarter. California Public Employees Retirement System now owns 178,943 shares of the industrial products company’s stock valued at $5,402,000 after purchasing an additional 132,899 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Astec Industries by 101.0% in the fourth quarter. Segall Bryant & Hamill LLC now owns 221,729 shares of the industrial products company’s stock valued at $6,694,000 after purchasing an additional 111,410 shares in the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on ASTE shares. ValuEngine raised shares of Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Robert W. Baird raised their price target on Astec Industries from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Astec Industries currently has a consensus rating of “Hold” and an average price target of $52.00.

Shares of ASTE opened at $32.75 on Thursday. The firm has a market capitalization of $711.34 million, a P/E ratio of 11.22 and a beta of 1.52. Astec Industries, Inc. has a 52-week low of $27.86 and a 52-week high of $63.69. The company has a quick ratio of 1.08, a current ratio of 3.02 and a debt-to-equity ratio of 0.09.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). The company had revenue of $325.78 million during the quarter, compared to the consensus estimate of $338.68 million. Astec Industries had a positive return on equity of 9.53% and a negative net margin of 5.67%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. On average, sell-side analysts anticipate that Astec Industries, Inc. will post 3.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 12th were given a $0.11 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.34%. Astec Industries’s dividend payout ratio is presently 15.07%.

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Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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

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