American Century Companies Inc. Purchases 8,209 Shares of Astec Industries, Inc. (NASDAQ:ASTE)

Posted by Defense World Staff on Sep 1st, 2023

American Century Companies Inc. boosted its holdings in shares of Astec Industries, Inc. (NASDAQ:ASTE – Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 423,789 shares of the industrial products company’s stock after purchasing an additional 8,209 shares during the period. American Century Companies Inc. owned about 1.87% of Astec Industries worth $17,449,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ASTE. PNC Financial Services Group Inc. lifted its position in shares of Astec Industries by 157.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,103 shares of the industrial products company’s stock worth $45,000 after buying an additional 674 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Astec Industries in the 1st quarter valued at approximately $51,000. Advisor Group Holdings Inc. grew its holdings in shares of Astec Industries by 336.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,310 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Astec Industries by 89.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,967 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 931 shares in the last quarter. Finally, US Bancorp DE lifted its stake in Astec Industries by 78.4% in the 1st quarter. US Bancorp DE now owns 2,667 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,172 shares during the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Astec Industries from $58.00 to $56.00 in a research note on Thursday, May 4th. TheStreet raised Astec Industries from a “c+” rating to a “b-” rating in a report on Thursday, August 17th. Robert W. Baird lifted their price target on Astec Industries from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Finally, StockNews.com assumed coverage on Astec Industries in a research note on Thursday, August 17th. They issued a “buy” rating for the company.

Read Our Latest Stock Report on ASTE

Astec Industries Stock Performance

Shares of Astec Industries stock opened at $54.82 on Friday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 49.84 and a beta of 1.59. Astec Industries, Inc. has a twelve month low of $31.04 and a twelve month high of $55.03. The company’s fifty day moving average is $48.94 and its 200 day moving average is $44.20. The company has a quick ratio of 0.93, a current ratio of 2.56 and a debt-to-equity ratio of 0.10.

Astec Industries (NASDAQ:ASTE – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.28. The firm had revenue of $350.00 million for the quarter, compared to the consensus estimate of $348.74 million. Astec Industries had a net margin of 1.83% and a return on equity of 8.62%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. Sell-side analysts forecast that Astec Industries, Inc. will post 3.21 EPS for the current year.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 11th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. Astec Industries’s payout ratio is currently 47.27%.

Astec Industries Profile

(Free Report)

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.