Astec Industries, Inc. $ASTE Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 34.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,021,430 shares of the industrial products company’s stock after selling 538,785 shares during the quarter. Victory Capital Management Inc. owned about 4.47% of Astec Industries worth $49,161,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ASTE. American Century Companies Inc. increased its holdings in shares of Astec Industries by 49.4% during the second quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock valued at $22,510,000 after acquiring an additional 178,545 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Astec Industries by 1,800.5% in the 3rd quarter. New York State Common Retirement Fund now owns 142,388 shares of the industrial products company’s stock worth $6,853,000 after purchasing an additional 134,896 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Astec Industries by 77,508.8% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 131,935 shares of the industrial products company’s stock worth $5,500,000 after purchasing an additional 131,765 shares in the last quarter. Invesco Ltd. grew its position in Astec Industries by 29.9% during the 2nd quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock worth $20,629,000 after purchasing an additional 113,765 shares during the last quarter. Finally, Millennium Management LLC grew its position in Astec Industries by 188.2% during the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock worth $5,111,000 after purchasing an additional 96,883 shares during the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ASTE. Wall Street Zen raised shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy”.

Astec Industries Price Performance

Shares of NASDAQ:ASTE opened at $57.87 on Friday. Astec Industries, Inc. has a twelve month low of $29.65 and a twelve month high of $64.37. The company’s 50 day moving average is $52.92 and its 200 day moving average is $48.44. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.33 billion, a PE ratio of 34.45, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38.

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

Astec Industries Dividend Announcement

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

Insider Transactions at Astec Industries

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

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.