Teton Advisors LLC Purchases New Holdings in Astec Industries, Inc. $ASTE

Teton Advisors LLC purchased a new stake in Astec Industries, Inc. (NASDAQ:ASTE) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 57,200 shares of the industrial products company’s stock, valued at approximately $2,753,000. Astec Industries makes up approximately 1.7% of Teton Advisors LLC’s investment portfolio, making the stock its 13th biggest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Astec Industries by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,513,520 shares of the industrial products company’s stock worth $120,976,000 after purchasing an additional 34,535 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Astec Industries by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 672,030 shares of the industrial products company’s stock worth $32,345,000 after purchasing an additional 132,095 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Astec Industries by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock valued at $24,109,000 after buying an additional 11,365 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Astec Industries by 29.9% in the 2nd quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock valued at $20,629,000 after buying an additional 113,765 shares during the last quarter. Finally, Harvey Partners LLC grew its stake in shares of Astec Industries by 0.8% in the second quarter. Harvey Partners LLC now owns 337,845 shares of the industrial products company’s stock valued at $14,085,000 after buying an additional 2,845 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Stock Performance

NASDAQ ASTE opened at $57.87 on Friday. The stock has a market cap of $1.33 billion, a PE ratio of 34.45, a P/E/G ratio of 2.29 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 2.49. The firm has a 50-day moving average of $52.92 and a 200-day moving average of $48.42. Astec Industries, Inc. has a 52-week low of $29.65 and a 52-week high of $64.37.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.32. The business had revenue of $400.60 million for the quarter, compared to analyst estimates of $374.21 million. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 9th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.9%. Astec Industries’s dividend payout ratio is presently 30.95%.

Insider Activity at Astec Industries

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total transaction of $59,543.25. Following the transaction, the insider owned 8,828 shares in the company, valued at approximately $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTE has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Zacks Research upgraded shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen raised shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Astec Industries has a consensus rating of “Buy”.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.