Short Interest in Astec Industries, Inc. (NASDAQ:ASTE) Increases By 6.3%

Astec Industries, Inc. (NASDAQ:ASTE) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 420,400 shares, a growth of 6.3% from the September 30th total of 395,400 shares. Based on an average trading volume of 140,900 shares, the short-interest ratio is currently 3.0 days. Currently, 1.9% of the shares of the stock are short sold.

Astec Industries Stock Down 1.9 %

Shares of Astec Industries stock opened at $31.78 on Friday. The stock’s 50-day simple moving average is $31.70 and its 200-day simple moving average is $32.87. Astec Industries has a 52 week low of $28.46 and a 52 week high of $44.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 2.50.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.11). The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $332.35 million. Astec Industries had a negative net margin of 0.18% and a positive return on equity of 6.56%. Astec Industries’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.13 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Astec Industries’s dividend payout ratio is currently -519.95%.

Institutional Investors Weigh In On Astec Industries

A number of hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Astec Industries by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company’s stock worth $264,000 after buying an additional 315 shares in the last quarter. GAMMA Investing LLC raised its position in Astec Industries by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 458 shares during the period. Price T Rowe Associates Inc. MD raised its position in Astec Industries by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,413 shares of the industrial products company’s stock valued at $762,000 after purchasing an additional 975 shares during the period. Lazard Asset Management LLC purchased a new stake in Astec Industries during the first quarter valued at approximately $66,000. Finally, CANADA LIFE ASSURANCE Co raised its position in Astec Industries by 10.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 19,117 shares of the industrial products company’s stock valued at $835,000 after purchasing an additional 1,878 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

About Astec Industries

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.