Legal & General Group Plc Buys Shares of 48,979 Astec Industries, Inc. $ASTE

Legal & General Group Plc acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 48,979 shares of the industrial products company’s stock, valued at approximately $2,997,000. Legal & General Group Plc owned about 0.21% of Astec Industries at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ASTE. The Manufacturers Life Insurance Company purchased a new position in shares of Astec Industries during the second quarter valued at approximately $589,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Astec Industries during the second quarter valued at approximately $6,075,000. Quantbot Technologies LP purchased a new stake in Astec Industries in the second quarter worth approximately $720,000. Martin & Co. Inc. TN purchased a new stake in Astec Industries in the second quarter worth approximately $5,166,000. Finally, Ieq Capital LLC bought a new stake in Astec Industries in the 2nd quarter worth approximately $807,000. Institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Performance

NASDAQ:ASTE opened at $44.22 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. Astec Industries, Inc. has a 12-month low of $40.47 and a 12-month high of $65.69. The stock has a 50-day moving average price of $49.94 and a 200 day moving average price of $53.44. The stock has a market capitalization of $1.02 billion, a P/E ratio of 52.02, a P/E/G ratio of 1.20 and a beta of 1.34.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.The business had revenue of $408.10 million during the quarter, compared to analysts’ expectations of $405.50 million. During the same period in the prior year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Astec Industries, Inc. will post 3.36 EPS for the current fiscal year.

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 10th. Astec Industries’s payout ratio is 61.18%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ASTE shares. Zacks Research cut Astec Industries from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Astec Industries has a consensus rating of “Moderate Buy”.

Astec Industries Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.