Posted by admin on Jun 28th, 2022

Nordea Investment Management AB increased its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 389.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,313 shares of the industrial products company’s stock after purchasing an additional 35,257 shares during the quarter. Nordea Investment Management AB’s holdings in Astec Industries were worth $1,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ASTE. Centerpoint Advisors LLC purchased a new stake in shares of Astec Industries during the fourth quarter worth about $30,000. Byrne Asset Management LLC boosted its position in Astec Industries by 96.1% during the first quarter. Byrne Asset Management LLC now owns 1,047 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 513 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in Astec Industries in the 4th quarter worth approximately $104,000. Rhumbline Advisers raised its holdings in Astec Industries by 3.0% in the 4th quarter. Rhumbline Advisers now owns 66,911 shares of the industrial products company’s stock valued at $4,635,000 after acquiring an additional 1,922 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Astec Industries by 122.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,757 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 2,070 shares during the period. 94.52% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on the company. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 13th. Robert W. Baird cut shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Friday, April 8th.

Shares of ASTE opened at $42.16 on Tuesday. Astec Industries, Inc. has a twelve month low of $36.31 and a twelve month high of $75.00. The firm has a market capitalization of $963.02 million, a P/E ratio of 72.69 and a beta of 1.28. The stock’s fifty day simple moving average is $43.20 and its 200 day simple moving average is $51.54.

Astec Industries (NASDAQ:ASTE – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The industrial products company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.17 by $0.24. The company had revenue of $291.20 million during the quarter, compared to analyst estimates of $286.56 million. Astec Industries had a return on equity of 4.74% and a net margin of 1.20%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. On average, equities research analysts forecast that Astec Industries, Inc. will post 1.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.48 annualized dividend and a yield of 1.14%. Astec Industries’s payout ratio is 82.76%.

About Astec Industries (Get Rating)

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 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.

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