Centiva Capital LP Takes $353,000 Position in Astec Industries, Inc. (NASDAQ:ASTE)

Centiva Capital LP purchased a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 11,045 shares of the industrial products company’s stock, valued at approximately $353,000.

Several other hedge funds also recently modified their holdings of ASTE. Price T Rowe Associates Inc. MD increased its position in shares of Astec Industries by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,413 shares of the industrial products company’s stock valued at $762,000 after purchasing an additional 975 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Astec Industries by 31.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 86,899 shares of the industrial products company’s stock worth $2,577,000 after acquiring an additional 21,016 shares during the last quarter. Legato Capital Management LLC grew its holdings in shares of Astec Industries by 19.9% in the 2nd quarter. Legato Capital Management LLC now owns 24,266 shares of the industrial products company’s stock worth $720,000 after acquiring an additional 4,020 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Astec Industries by 52.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,996 shares of the industrial products company’s stock worth $178,000 after acquiring an additional 2,056 shares during the last quarter. Finally, AM Investment Strategies LLC acquired a new position in shares of Astec Industries in the 2nd quarter worth $231,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASTE. Robert W. Baird lifted their target price on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd.

Astec Industries Price Performance

ASTE opened at $38.06 on Tuesday. The stock has a market cap of $867.77 million, a price-to-earnings ratio of -475.69 and a beta of 1.30. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $34.54 and a 200 day moving average price of $32.77.

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

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.37%. Astec Industries’s dividend payout ratio is currently -649.92%.

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.