John G Ullman & Associates Inc. Raises Stock Holdings in Astec Industries, Inc. (NASDAQ:ASTE)

John G Ullman & Associates Inc. raised its stake in Astec Industries, Inc. (NASDAQ:ASTE) by 64.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,314 shares of the industrial products company’s stock after purchasing an additional 52,571 shares during the period. John G Ullman & Associates Inc. owned 0.59% of Astec Industries worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Astec Industries by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 458 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Astec Industries in the first quarter worth about $66,000. Northwest Investment Counselors LLC purchased a new stake in shares of Astec Industries during the third quarter worth about $72,000. SG Americas Securities LLC acquired a new position in shares of Astec Industries during the first quarter valued at about $116,000. Finally, nVerses Capital LLC increased its holdings in shares of Astec Industries by 425.0% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 3,400 shares in the last quarter. 93.16% of the stock is currently owned by institutional investors.

Astec Industries Stock Down 0.0 %

Shares of NASDAQ ASTE opened at $35.99 on Thursday. The company has a 50 day simple moving average of $32.68 and a two-hundred day simple moving average of $32.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. Astec Industries, Inc. has a 12 month low of $28.46 and a 12 month high of $44.74.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. During the same period in the previous year, the company posted ($0.01) earnings per share. Astec Industries’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, November 13th. Astec Industries’s payout ratio is currently -649.92%.

Analysts Set New Price Targets

Several research firms have recently commented on ASTE. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Robert W. Baird lifted their price target on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th.

Astec Industries Company Profile

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.