Empire Life Investments Inc. purchased a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 44,969 shares of the industrial products company’s stock, valued at approximately $2,631,000. Empire Life Investments Inc. owned 0.19% of Astec Industries as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. 1060 Capital LLC bought a new position in shares of Astec Industries in the 3rd quarter worth about $37,991,000. Franklin Resources Inc. grew its stake in shares of Astec Industries by 139.5% in the fourth quarter. Franklin Resources Inc. now owns 1,047,759 shares of the industrial products company’s stock valued at $61,294,000 after buying an additional 610,317 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in shares of Astec Industries in the fourth quarter valued at about $13,684,000. Granite Investment Partners LLC acquired a new stake in shares of Astec Industries in the third quarter valued at about $11,430,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Astec Industries in the fourth quarter valued at about $8,696,000. 93.00% of the stock is owned by institutional investors and hedge funds.
Shares of Astec Industries, Inc. (NASDAQ ASTE) opened at $60.26 on Monday. Astec Industries, Inc. has a 1 year low of $45.70 and a 1 year high of $66.66. The company has a market capitalization of $1,390.33, a P/E ratio of 37.20, a P/E/G ratio of 1.74 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, March 9th. Astec Industries’s dividend payout ratio is currently 24.69%.
Several brokerages recently issued reports on ASTE. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Zacks Investment Research raised Astec Industries from a “strong sell” rating to a “hold” rating in a report on Monday, December 4th. William Blair raised Astec Industries from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 2nd. TheStreet raised Astec Industries from a “c+” rating to a “b-” rating in a report on Friday, January 5th. Finally, Seaport Global Securities reissued a “hold” rating on shares of Astec Industries in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Astec Industries currently has a consensus rating of “Buy” and a consensus target price of $68.33.
Astec Industries Company 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.
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