Tudor Investment Corp ET AL Acquires New Shares in Astec Industries, Inc. $ASTE

Tudor Investment Corp ET AL purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 56,677 shares of the industrial products company’s stock, valued at approximately $2,728,000. Tudor Investment Corp ET AL owned approximately 0.25% of Astec Industries at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ASTE. Penn Capital Management Company LLC acquired a new position in Astec Industries in the third quarter worth approximately $10,096,000. Hancock Whitney Corp acquired a new stake in Astec Industries in the third quarter valued at approximately $256,000. Caxton Associates LLP bought a new stake in Astec Industries in the third quarter worth approximately $331,000. Qube Research & Technologies Ltd grew its position in Astec Industries by 256.6% in the third quarter. Qube Research & Technologies Ltd now owns 137,027 shares of the industrial products company’s stock worth $6,595,000 after acquiring an additional 98,601 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Astec Industries by 1.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 818,031 shares of the industrial products company’s stock worth $39,372,000 after purchasing an additional 9,174 shares during the last quarter. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was 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 trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ASTE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Wall Street Zen lowered Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Longbow Research raised Astec Industries to a “strong-buy” rating in a research report on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

Astec Industries Trading Down 1.8%

NASDAQ:ASTE opened at $52.14 on Friday. The company’s 50 day moving average is $55.01 and its 200-day moving average is $49.20. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47. Astec Industries, Inc. has a 12 month low of $29.65 and a 12 month high of $64.37. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 31.04, a P/E/G ratio of 2.01 and a beta of 1.38.

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

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 9th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, March 9th. Astec Industries’s dividend payout ratio is 30.95%.

About Astec Industries

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.