Hillsdale Investment Management Inc. Purchases 131,765 Shares of Astec Industries, Inc. $ASTE

Hillsdale Investment Management Inc. grew its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 77,508.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 131,935 shares of the industrial products company’s stock after purchasing an additional 131,765 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.58% of Astec Industries worth $5,500,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Astec Industries by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock valued at $662,000 after buying an additional 274 shares during the last quarter. Tompkins Financial Corp grew its stake in shares of Astec Industries by 30.0% in the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 300 shares during the last quarter. US Bancorp DE grew its stake in shares of Astec Industries by 4.1% in the first quarter. US Bancorp DE now owns 8,326 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 327 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Astec Industries during the second quarter worth $27,000. Finally, State of Alaska Department of Revenue raised its stake in Astec Industries by 7.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock valued at $567,000 after purchasing an additional 977 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Price Performance

NASDAQ:ASTE opened at $41.82 on Friday. The company has a 50-day moving average of $46.37 and a 200-day moving average of $43.34. The company has a market capitalization of $956.67 million, a price-to-earnings ratio of 21.02, a PEG ratio of 2.32 and a beta of 1.42. Astec Industries, Inc. has a 52 week low of $29.65 and a 52 week high of $50.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.08 and a current ratio of 2.71.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $350.10 million during the quarter, compared to analyst estimates of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 10th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. Astec Industries’s dividend payout ratio is presently 25.00%.

Insider Activity at Astec Industries

In related news, insider Barend Snyman sold 2,498 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total value of $117,955.56. Following the sale, the insider owned 15,559 shares of the company’s stock, valued at $734,695.98. The trade was a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Analyst Ratings Changes

ASTE has been the topic of several research analyst reports. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $41.00.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers 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 engineering and environmental permitting services.