Thrivent Financial for Lutherans Has $947,000 Position in Astec Industries, Inc. (NASDAQ:ASTE)

Posted by on May 24th, 2023

Thrivent Financial for Lutherans trimmed its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,297 shares of the industrial products company’s stock after selling 339 shares during the period. Thrivent Financial for Lutherans owned about 0.10% of Astec Industries worth $947,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ASTE. Citigroup Inc. boosted its position in Astec Industries by 9.6% during the first quarter. Citigroup Inc. now owns 19,918 shares of the industrial products company’s stock valued at $856,000 after purchasing an additional 1,743 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Astec Industries by 54.0% in the 1st quarter. MetLife Investment Management LLC now owns 12,874 shares of the industrial products company’s stock valued at $554,000 after buying an additional 4,513 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Astec Industries by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,626 shares of the industrial products company’s stock valued at $844,000 after buying an additional 2,420 shares in the last quarter. BlackRock Inc. increased its holdings in Astec Industries by 4.6% during the first quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock worth $173,816,000 after buying an additional 178,771 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Astec Industries by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,341,277 shares of the industrial products company’s stock worth $57,675,000 after acquiring an additional 28,651 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Stock Up 0.5 %

Shares of ASTE opened at $39.24 on Wednesday. The firm has a market cap of $891.53 million, a P/E ratio of 112.12 and a beta of 1.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 2.50. Astec Industries, Inc. has a 52 week low of $31.04 and a 52 week high of $49.56. The firm’s 50-day simple moving average is $40.08 and its 200 day simple moving average is $41.79.

Astec Industries (NASDAQ:ASTE – Get Rating) last posted its earnings results on Wednesday, May 3rd. The industrial products company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.59 by $0.31. The company had revenue of $347.90 million for the quarter, compared to the consensus estimate of $341.36 million. Astec Industries had a return on equity of 6.17% and a net margin of 0.59%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. On average, analysts forecast that Astec Industries, Inc. will post 2.58 earnings per share for the current year.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Friday, May 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, May 11th. Astec Industries’s dividend payout ratio is currently 148.58%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Astec Industries from $36.00 to $42.00 in a research note on Wednesday, March 1st. StockNews.com began coverage on Astec Industries in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. William Blair reiterated a “market perform” rating on shares of Astec Industries in a research note on Wednesday, March 1st. Finally, Stifel Nicolaus dropped their price target on Astec Industries from $58.00 to $56.00 in a research note on Thursday, May 4th.

About Astec Industries

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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.

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

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