Renaissance Technologies LLC Sells 81,039 Shares of Astec Industries, Inc. $ASTE

Renaissance Technologies LLC reduced its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 66.4% in the first quarter, HoldingsChannel.com reports. The fund owned 41,006 shares of the industrial products company’s stock after selling 81,039 shares during the quarter. Renaissance Technologies LLC’s holdings in Astec Industries were worth $2,208,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. iSAM Funds UK Ltd acquired a new stake in Astec Industries during the third quarter worth approximately $50,000. Farther Finance Advisors LLC lifted its stake in Astec Industries by 8,994.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,529 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Astec Industries by 412.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after buying an additional 1,780 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Astec Industries during the 4th quarter worth approximately $127,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Astec Industries during the 1st quarter worth approximately $210,000. 93.16% of the stock is owned by institutional investors.

Astec Industries Stock Performance

ASTE opened at $43.04 on Tuesday. Astec Industries, Inc. has a 1-year low of $40.47 and a 1-year high of $65.69. The company has a market cap of $990.78 million, a price-to-earnings ratio of 50.64, a PEG ratio of 1.20 and a beta of 1.36. The company’s fifty day moving average price is $54.16 and its two-hundred day moving average price is $54.76. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). Astec Industries had a net margin of 1.26% and a return on equity of 10.26%. The business had revenue of $408.10 million for the quarter, compared to analyst estimates of $405.50 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts expect that Astec Industries, Inc. will post 3.36 EPS for the current fiscal year.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 10th. Astec Industries’s payout ratio is currently 61.18%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Zacks Research downgraded shares of Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.