Tompkins Financial Corp Invests $34,000 in Astec Industries, Inc. (NASDAQ:ASTE)

Tompkins Financial Corp bought a new stake in Astec Industries, Inc. (NASDAQ:ASTE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,000 shares of the industrial products company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after buying an additional 458 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Astec Industries during the 3rd quarter valued at about $45,000. Wilmington Savings Fund Society FSB acquired a new position in Astec Industries in the 3rd quarter valued at about $49,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Astec Industries in the 3rd quarter valued at about $64,000. Finally, Point72 DIFC Ltd purchased a new stake in Astec Industries during the third quarter worth about $69,000. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Price Performance

ASTE stock opened at $33.85 on Friday. The business’s 50-day moving average is $35.61 and its two-hundred day moving average is $33.35. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The firm has a market capitalization of $771.78 million, a P/E ratio of -423.07 and a beta of 1.31. Astec Industries, Inc. has a 1 year low of $28.46 and a 1 year high of $44.74.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $312.90 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.54%. Astec Industries’s payout ratio is currently -649.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Robert W. Baird raised their price objective on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th.

About Astec Industries

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.