Astec Industries, Inc. (NASDAQ:ASTE) Short Interest Update

Astec Industries, Inc. (NASDAQ:ASTEGet Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 395,400 shares, a drop of 8.7% from the September 15th total of 433,000 shares. Based on an average daily volume of 146,100 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.8% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 458 shares during the period. Lazard Asset Management LLC acquired a new position in Astec Industries during the 1st quarter valued at about $66,000. Central Pacific Bank Trust Division purchased a new stake in Astec Industries in the first quarter valued at about $85,000. Northwest Investment Counselors LLC acquired a new stake in Astec Industries in the first quarter worth about $98,000. Finally, SG Americas Securities LLC acquired a new stake in Astec Industries in the first quarter worth about $116,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Trading Up 0.8 %

ASTE opened at $32.20 on Tuesday. The stock’s fifty day moving average is $31.85 and its two-hundred day moving average is $33.80. The company has a market capitalization of $733.03 million, a P/E ratio of 29.54 and a beta of 1.27. Astec Industries has a 52 week low of $28.46 and a 52 week high of $46.03. The company has a quick ratio of 1.04, a current ratio of 2.50 and a debt-to-equity ratio of 0.20.

Astec Industries (NASDAQ:ASTEGet Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. The company had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $332.35 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 12th were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.61%. Astec Industries’s dividend payout ratio is presently 47.71%.

Astec Industries Company Profile

(Get 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.

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