Astec Industries, Inc. (ASTE) Position Reduced by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY lowered its holdings in Astec Industries, Inc. (NASDAQ:ASTE) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,695 shares of the industrial products company’s stock after selling 7,762 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Astec Industries were worth $392,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. acquired a new position in Astec Industries in the fourth quarter worth $365,000. Teacher Retirement System of Texas acquired a new position in Astec Industries in the fourth quarter worth $393,000. UBS Asset Management Americas Inc. boosted its stake in Astec Industries by 100.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 7,492 shares of the industrial products company’s stock worth $438,000 after purchasing an additional 3,760 shares in the last quarter. National Investment Services Inc. WI acquired a new position in Astec Industries in the fourth quarter worth $447,000. Finally, Russell Investments Group Ltd. acquired a new position in Astec Industries in the third quarter worth $529,000. 93.43% of the stock is currently owned by institutional investors.
A number of research firms have commented on ASTE. BidaskClub raised Astec Industries from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. William Blair raised Astec Industries from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 2nd. TheStreet raised Astec Industries from a “c+” rating to a “b-” rating in a research note on Friday, January 5th. Seaport Global Securities reissued a “hold” rating on shares of Astec Industries in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research raised Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.00.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $312.38 million for the quarter, compared to the consensus estimate of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. research analysts forecast that Astec Industries, Inc. will post 3.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Monday, March 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.70%. Astec Industries’s payout ratio is currently 25.32%.
Astec Industries Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
Want to see what other hedge funds are holding ASTE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astec Industries, Inc. (NASDAQ:ASTE).
Receive News & Ratings for Astec Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astec Industries and related companies with MarketBeat.com's FREE daily email newsletter.