Jupiter Asset Management Ltd. Has $7.93 Million Stock Position in Astec Industries, Inc. (NASDAQ:ASTE)

Jupiter Asset Management Ltd. decreased its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,168 shares of the industrial products company’s stock after selling 241 shares during the period. Jupiter Asset Management Ltd. owned 0.46% of Astec Industries worth $7,931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ellevest Inc. acquired a new position in Astec Industries during the 4th quarter worth about $27,000. First Horizon Advisors Inc. lifted its position in Astec Industries by 225.2% during the 4th quarter. First Horizon Advisors Inc. now owns 491 shares of the industrial products company’s stock worth $28,000 after buying an additional 340 shares in the last quarter. Optimum Investment Advisors acquired a new position in Astec Industries during the 1st quarter worth about $62,000. Veriti Management LLC bought a new stake in Astec Industries during the 4th quarter worth about $54,000. Finally, Advisory Services Network LLC raised its holdings in Astec Industries by 99.9% during the 4th quarter. Advisory Services Network LLC now owns 1,601 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.

Shares of ASTE stock opened at $64.90 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 42.42 and a beta of 1.37. The company has a 50-day moving average of $72.03. Astec Industries, Inc. has a one year low of $42.00 and a one year high of $80.00.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.42). The company had revenue of $284.40 million during the quarter, compared to the consensus estimate of $311.45 million. Astec Industries had a net margin of 3.44% and a return on equity of 6.62%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. On average, analysts forecast that Astec Industries, Inc. will post 2.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Tuesday, May 11th were paid a $0.11 dividend. The ex-dividend date was Monday, May 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.68%. Astec Industries’s dividend payout ratio (DPR) is presently 18.49%.

ASTE has been the subject of several recent research reports. Zacks Investment Research cut Astec Industries from a “buy” rating to a “hold” rating and set a $81.00 price objective for the company. in a report on Tuesday, May 4th. Stifel Nicolaus raised Astec Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $81.00 in a report on Thursday, May 6th. TheStreet cut Astec Industries from a “b” rating to a “c+” rating in a report on Wednesday, May 5th. Finally, Robert W. Baird boosted their price objective on Astec Industries from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $79.50.

Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company's Infrastructure Solutions segment designs, engineers, manufactures, and markets 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 offers engineering and environmental permitting services.

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

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