Squarepoint Ops LLC Cuts Stock Position in Astec Industries, Inc. $ASTE

Squarepoint Ops LLC decreased its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 58.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,503 shares of the industrial products company’s stock after selling 24,295 shares during the period. Squarepoint Ops LLC’s holdings in Astec Industries were worth $730,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ASTE. FNY Investment Advisers LLC purchased a new stake in Astec Industries during the second quarter worth about $27,000. Wealth Preservation Advisors LLC acquired a new position in shares of Astec Industries in the first quarter valued at approximately $36,000. Tompkins Financial Corp increased its stake in Astec Industries by 30.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after buying an additional 300 shares during the period. Tower Research Capital LLC TRC lifted its holdings in 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. Finally, Teacher Retirement System of Texas purchased a new position in Astec Industries in the 2nd quarter valued at approximately $204,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Price Performance

Astec Industries stock opened at $45.51 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $45.38 and a 200-day simple moving average of $44.17. The stock has a market cap of $1.04 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43. Astec Industries, Inc. has a 12-month low of $29.65 and a 12-month high of $50.83.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $336.00 million. Astec Industries had a return on equity of 11.93% and a net margin of 3.50%.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, November 10th. This represents a $0.52 annualized dividend and a yield of 1.1%. Astec Industries’s payout ratio is presently 25.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Zacks Research raised Astec Industries to a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research note on Monday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Astec Industries presently has a consensus rating of “Hold” and an average price target of $41.00.

Astec Industries Profile

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.