Alpha Paradigm Partners LLC Makes New $362,000 Investment in Astec Industries, Inc. (NASDAQ:ASTE)

Posted by Defense World Staff on Mar 15th, 2023

Alpha Paradigm Partners LLC acquired a new position in Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,622 shares of the industrial products company’s stock, valued at approximately $362,000. Alpha Paradigm Partners LLC owned approximately 0.05% of Astec Industries at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ASTE. BNP Paribas Arbitrage SNC lifted its position in shares of Astec Industries by 49.7% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 11,949 shares of the industrial products company’s stock valued at $373,000 after buying an additional 3,965 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Astec Industries by 5.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 23,636 shares of the industrial products company’s stock valued at $737,000 after buying an additional 1,195 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Astec Industries by 92.6% during the 3rd quarter. Trexquant Investment LP now owns 11,635 shares of the industrial products company’s stock valued at $363,000 after buying an additional 5,595 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Astec Industries by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,496,814 shares of the industrial products company’s stock valued at $77,876,000 after buying an additional 44,174 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Astec Industries by 27.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 13,733 shares of the industrial products company’s stock valued at $429,000 after buying an additional 2,929 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Astec Industries Trading Up 1.9 %

Shares of ASTE stock opened at $41.35 on Wednesday. The stock’s fifty day moving average is $42.96 and its two-hundred day moving average is $40.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.11 and a current ratio of 2.54. The firm has a market capitalization of $936.58 million, a P/E ratio of 34.75 and a beta of 1.52. Astec Industries, Inc. has a fifty-two week low of $31.04 and a fifty-two week high of $49.56.

Astec Industries (NASDAQ:ASTE – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The firm had revenue of $349.90 million during the quarter, compared to analysts’ expectations of $313.55 million. Astec Industries had a negative net margin of 0.01% and a positive return on equity of 4.38%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. Research analysts expect that Astec Industries, Inc. will post 2.05 earnings per share for the current fiscal year.

Astec Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Friday, March 10th will be issued a $0.13 dividend. The ex-dividend date is Thursday, March 9th. This represents a $0.52 dividend on an annualized basis and a yield of 1.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ASTE shares. William Blair reiterated a “market perform” rating on shares of Astec Industries in a research report on Wednesday, March 1st. Robert W. Baird increased their target price on Astec Industries from $36.00 to $42.00 in a research report on Wednesday, March 1st.

Astec Industries Company Profile

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Astec Industries, Inc engages in the design, engineer, manufacture, and market of equipment and components used in road building and construction activities. It operates through the following segments: Infrastructure Solutions, Material Solutions, and Corporate and Other. The Infrastructure Solutions segment designs, engineers, manufactures, and markets a complete line of asphalt plants, concrete plants, and ancillary equipment, as well as supplying asphalt road construction equipment, industrial thermal systems, and heavy equipment.