Keybank National Association OH Sells 625 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Posted by Defense World Staff on Aug 23rd, 2023

Keybank National Association OH cut its position in shares of Astec Industries, Inc. (NASDAQ:ASTE – Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,004 shares of the industrial products company’s stock after selling 625 shares during the period. Keybank National Association OH’s holdings in Astec Industries were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ASTE. PNC Financial Services Group Inc. raised its position in shares of Astec Industries by 157.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,103 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 674 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Astec Industries in the 1st quarter worth $51,000. Advisor Group Holdings Inc. raised its position in shares of Astec Industries by 336.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,310 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Astec Industries by 89.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,967 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 931 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Astec Industries by 78.4% in the 1st quarter. US Bancorp DE now owns 2,667 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,172 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

Astec Industries Trading Up 0.3 %

Shares of NASDAQ:ASTE opened at $51.94 on Wednesday. The business’s 50-day moving average is $47.71 and its 200 day moving average is $43.77. Astec Industries, Inc. has a 1 year low of $31.04 and a 1 year high of $53.97. The firm has a market capitalization of $1.18 billion, a P/E ratio of 47.22 and a beta of 1.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.56 and a quick ratio of 0.93.

Astec Industries (NASDAQ:ASTE – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.28. Astec Industries had a return on equity of 8.62% and a net margin of 1.83%. The company had revenue of $350.00 million for the quarter, compared to analyst estimates of $348.74 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts predict that Astec Industries, Inc. will post 3.21 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.52 annualized dividend and a yield of 1.00%. Astec Industries’s payout ratio is presently 47.27%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. TheStreet raised Astec Industries from a “c+” rating to a “b-” rating in a research report on Thursday, August 17th. Stifel Nicolaus reduced their target price on Astec Industries from $58.00 to $56.00 in a research report on Thursday, May 4th. StockNews.com initiated coverage on Astec Industries in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Robert W. Baird upped their target price on Astec Industries from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd.

Get Our Latest Stock Analysis on Astec Industries

Astec Industries Profile

(Free Report)

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.