Astec Industries, Inc. $ASTE Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 34.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,021,430 shares of the industrial products company’s stock after selling 538,785 shares during the quarter. Victory Capital Management Inc.’s holdings in Astec Industries were worth $49,161,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Astec Industries by 49.4% in the 2nd quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock worth $22,510,000 after purchasing an additional 178,545 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Astec Industries by 1,800.5% during the 3rd quarter. New York State Common Retirement Fund now owns 142,388 shares of the industrial products company’s stock valued at $6,853,000 after purchasing an additional 134,896 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Astec Industries by 77,508.8% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 131,935 shares of the industrial products company’s stock valued at $5,500,000 after purchasing an additional 131,765 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Astec Industries by 29.9% in the 2nd quarter. Invesco Ltd. now owns 494,814 shares of the industrial products company’s stock valued at $20,629,000 after purchasing an additional 113,765 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Astec Industries by 188.2% in the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock valued at $5,111,000 after purchasing an additional 96,883 shares during the period. 93.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on ASTE. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 28th. Finally, Zacks Research raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Insider Activity

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of Astec Industries stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total value of $59,543.25. Following the sale, the insider owned 8,828 shares in the company, valued at $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Astec Industries Trading Down 4.4%

Shares of ASTE stock opened at $57.87 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.49 and a quick ratio of 1.07. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 34.45, a PEG ratio of 2.19 and a beta of 1.38. The stock has a 50 day simple moving average of $52.92 and a 200-day simple moving average of $48.44. Astec Industries, Inc. has a 1-year low of $29.65 and a 1-year high of $64.37.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.74 by $0.32. The company had revenue of $400.60 million during the quarter, compared to analyst estimates of $374.21 million. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 9th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 9th. Astec Industries’s dividend payout ratio (DPR) is presently 30.95%.

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.