Bank of New York Mellon Corp boosted its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 8.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 633,973 shares of the industrial products company’s stock after buying an additional 51,112 shares during the period. Bank of New York Mellon Corp owned approximately 2.75% of Astec Industries worth $37,088,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Astec Industries by 87.5% during the 3rd quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 1,695 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Astec Industries during the 3rd quarter worth approximately $305,000. Crossmark Global Holdings Inc. acquired a new position in shares of Astec Industries during the 3rd quarter worth approximately $307,000. Teacher Retirement System of Texas acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $393,000. Finally, National Investment Services Inc. WI acquired a new position in shares of Astec Industries during the 4th quarter worth approximately $447,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
Shares of Astec Industries, Inc. (ASTE) opened at $60.30 on Tuesday. The stock has a market cap of $1,390.33, a P/E ratio of 37.22, a P/E/G ratio of 1.74 and a beta of 1.07. Astec Industries, Inc. has a 52-week low of $45.70 and a 52-week high of $66.66.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, March 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.66%. Astec Industries’s dividend payout ratio is 24.69%.
A number of brokerages have issued reports on ASTE. TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a research report on Friday, January 5th. Seaport Global Securities restated a “hold” rating on shares of Astec Industries in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Astec Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 4th. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, Dougherty & Co upgraded shares of Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Astec Industries currently has a consensus rating of “Buy” and a consensus target price of $68.33.
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.
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