PDT Partners LLC Buys Shares of 23,617 Astec Industries, Inc. (NASDAQ:ASTE)

PDT Partners LLC purchased a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,617 shares of the industrial products company’s stock, valued at approximately $754,000. PDT Partners LLC owned about 0.10% of Astec Industries at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Verition Fund Management LLC acquired a new position in Astec Industries during the 3rd quarter worth about $236,000. John G Ullman & Associates Inc. raised its position in shares of Astec Industries by 64.3% during the third quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company’s stock worth $4,290,000 after acquiring an additional 52,571 shares during the last quarter. Intech Investment Management LLC bought a new position in Astec Industries during the third quarter worth $319,000. Advisors Asset Management Inc. boosted its position in shares of Astec Industries by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company’s stock valued at $2,478,000 after purchasing an additional 5,668 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Astec Industries during the 3rd quarter worth approximately $233,000. Institutional investors own 93.16% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASTE. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lifted their price target on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $39.05 on Tuesday. The firm has a market cap of $890.42 million, a P/E ratio of -488.13 and a beta of 1.26. The company has a 50 day moving average of $33.86 and a 200 day moving average of $32.60. Astec Industries, Inc. has a twelve month low of $28.46 and a twelve month high of $44.74. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

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

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.13 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.33%. Astec Industries’s dividend payout ratio (DPR) is presently -650.00%.

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.