State of Alaska Department of Revenue Purchases 977 Shares of Astec Industries, Inc. $ASTE

State of Alaska Department of Revenue increased its position in Astec Industries, Inc. (NASDAQ:ASTE) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,612 shares of the industrial products company’s stock after acquiring an additional 977 shares during the quarter. State of Alaska Department of Revenue’s holdings in Astec Industries were worth $567,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Astec Industries during the 1st quarter valued at about $36,000. Byrne Asset Management LLC boosted its position in Astec Industries by 66.4% in the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company’s stock valued at $40,000 after buying an additional 465 shares in the last quarter. Tompkins Financial Corp boosted its position in Astec Industries by 30.0% in the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after buying an additional 300 shares in the last quarter. CWM LLC raised its stake in shares of Astec Industries by 264.6% in the first quarter. CWM LLC now owns 2,483 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 1,802 shares during the last quarter. Finally, AM Investment Strategies LLC bought a new position in shares of Astec Industries in the second quarter worth about $221,000. Institutional investors own 93.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Barend Snyman sold 2,498 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $47.22, for a total transaction of $117,955.56. Following the completion of the transaction, the insider owned 15,559 shares in the company, valued at approximately $734,695.98. This represents a 13.83% 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. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research note on Wednesday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Astec Industries presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Astec Industries Stock Up 1.4%

Astec Industries stock opened at $48.16 on Thursday. The stock has a market capitalization of $1.10 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 2.31 and a beta of 1.43. Astec Industries, Inc. has a twelve month low of $29.65 and a twelve month high of $50.83. The company has a quick ratio of 1.08, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $45.83 and a 200-day moving average of $40.85.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.28. The company had revenue of $330.30 million during the quarter, compared to analysts’ expectations of $361.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 11th. This represents a $0.52 annualized dividend and a yield of 1.1%. Astec Industries’s dividend payout ratio is presently 26.13%.

Astec Industries Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.