Wilmington Savings Fund Society FSB Purchases Shares of 1,523 Astec Industries, Inc. (NASDAQ:ASTE)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,523 shares of the industrial products company’s stock, valued at approximately $49,000.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Astec Industries during the 3rd quarter valued at approximately $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astec Industries during the 3rd quarter valued at approximately $64,000. Point72 DIFC Ltd purchased a new position in shares of Astec Industries in the third quarter valued at $69,000. Finally, Northwest Investment Counselors LLC bought a new stake in Astec Industries in the third quarter worth $72,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Down 2.3 %

Shares of ASTE opened at $33.29 on Friday. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $35.49 and a 200 day moving average of $33.00. The company has a market cap of $759.08 million, a PE ratio of -416.07 and a beta of 1.30. Astec Industries, Inc. has a 52-week low of $28.46 and a 52-week high of $44.74.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $291.40 million during the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.13 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. Astec Industries’s payout ratio is -650.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird increased their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th.

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.