Gamco Investors INC. ET AL Has $42.08 Million Position in Astec Industries, Inc. (NASDAQ:ASTE)

Gamco Investors INC. ET AL lifted its stake in shares of Astec Industries, Inc. (NASDAQ:ASTEFree Report) by 8.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,131,271 shares of the industrial products company’s stock after acquiring an additional 86,969 shares during the period. Gamco Investors INC. ET AL owned 4.97% of Astec Industries worth $42,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Astec Industries by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,531,823 shares of the industrial products company’s stock valued at $56,984,000 after purchasing an additional 29,657 shares in the last quarter. FMR LLC increased its stake in Astec Industries by 65,426.4% during the 3rd quarter. FMR LLC now owns 473,756 shares of the industrial products company’s stock valued at $22,319,000 after purchasing an additional 473,033 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Astec Industries by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,157 shares of the industrial products company’s stock worth $13,733,000 after acquiring an additional 14,126 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Astec Industries in the 3rd quarter worth $13,107,000. Finally, First Eagle Investment Management LLC grew its stake in shares of Astec Industries by 35.2% in the 4th quarter. First Eagle Investment Management LLC now owns 222,251 shares of the industrial products company’s stock worth $8,268,000 after acquiring an additional 57,836 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Insider Activity

In other news, insider Michael Paul Norris purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $33.46 per share, for a total transaction of $33,460.00. Following the purchase, the insider now directly owns 15,886 shares in the company, valued at approximately $531,545.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Astec Industries Price Performance

Shares of ASTE stock traded down $0.44 during trading on Thursday, hitting $31.19. The company had a trading volume of 106,083 shares, compared to its average volume of 145,393. The company has a quick ratio of 0.95, a current ratio of 2.51 and a debt-to-equity ratio of 0.19. The stock’s 50-day moving average is $36.75 and its two-hundred day moving average is $36.78. The stock has a market capitalization of $709.88 million, a price-to-earnings ratio of 28.61 and a beta of 1.33. Astec Industries, Inc. has a 52 week low of $28.97 and a 52 week high of $56.33.

Astec Industries (NASDAQ:ASTEGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.47). The company had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. As a group, analysts predict that Astec Industries, Inc. will post 2.44 EPS for the current fiscal year.

Astec Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 13th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Friday, May 10th. Astec Industries’s dividend payout ratio (DPR) is presently 47.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ASTE. Stifel Nicolaus downgraded shares of Astec Industries from a “buy” rating to a “hold” rating and lowered their price target for the stock from $47.00 to $37.00 in a report on Thursday, May 2nd. StockNews.com downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd.

Get Our Latest Stock Report on ASTE

About Astec Industries

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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