Envestnet Asset Management Inc. Has $933,000 Stake in Astec Industries, Inc. $ASTE

Envestnet Asset Management Inc. raised its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 66.8% in the second quarter, Holdings Channel reports. The fund owned 22,387 shares of the industrial products company’s stock after buying an additional 8,965 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Astec Industries were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Astec Industries by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 274 shares during the last quarter. Tompkins Financial Corp grew its holdings in Astec Industries by 30.0% in the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after buying an additional 300 shares during the last quarter. US Bancorp DE increased its position in Astec Industries by 4.1% in the 1st quarter. US Bancorp DE now owns 8,326 shares of the industrial products company’s stock worth $287,000 after buying an additional 327 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Astec Industries during the second quarter worth approximately $27,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Astec Industries by 7.7% in the second quarter. State of Alaska Department of Revenue now owns 13,612 shares of the industrial products company’s stock valued at $567,000 after acquiring an additional 977 shares during the period. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Stock Performance

Shares of NASDAQ ASTE opened at $41.82 on Friday. The firm 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 one year low of $29.65 and a one year high of $50.83. The business has a fifty day simple moving average of $46.37 and a 200 day simple moving average of $43.38. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13.

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

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 10th. Astec Industries’s dividend payout ratio is 25.00%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Barend Snyman sold 2,498 shares of the company’s stock in a transaction that occurred 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 directly owned 15,559 shares in the company, valued at approximately $734,695.98. This represents a 13.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.69% of the stock is currently owned by corporate insiders.

Astec Industries Profile

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.