Counterpoint Mutual Funds LLC Acquires New Stake in Astec Industries, Inc. $ASTE

Counterpoint Mutual Funds LLC bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,625 shares of the industrial products company’s stock, valued at approximately $572,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ASTE. iSAM Funds UK Ltd acquired a new stake in shares of Astec Industries in the third quarter valued at about $50,000. Farther Finance Advisors LLC raised its position in shares of Astec Industries by 8,994.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 1,529 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Astec Industries in the fourth quarter worth approximately $127,000. Finally, LSV Asset Management acquired a new position in shares of Astec Industries in the fourth quarter worth approximately $182,000. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Stock Performance

ASTE opened at $57.56 on Friday. Astec Industries, Inc. has a 1-year low of $37.82 and a 1-year high of $65.69. The company has a current ratio of 2.34, a quick ratio of 1.00 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.32 billion, a P/E ratio of 51.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.34. The company has a fifty day moving average price of $54.00 and a two-hundred day moving average price of $53.47.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.34). The company had revenue of $396.30 million for the quarter, compared to analyst estimates of $393.24 million. Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. Analysts predict that Astec Industries, Inc. will post 3.63 EPS for the current fiscal year.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, May 13th. Astec Industries’s dividend payout ratio is 46.43%.

Analyst Ratings Changes

A number of research firms have recently commented on ASTE. Zacks Research lowered shares of Astec Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday. Longbow Research raised Astec Industries to a “strong-buy” rating in a research report on Monday, March 16th. Freedom Capital raised Astec Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings downgraded Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Astec Industries 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.