Boothbay Fund Management LLC Invests $305,000 in Astec Industries, Inc. (ASTE)

Boothbay Fund Management LLC bought a new position in shares of Astec Industries, Inc. (NASDAQ:ASTE) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,438 shares of the industrial products company’s stock, valued at approximately $305,000.

Other hedge funds also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan lifted its position in shares of Astec Industries by 2.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 5,670 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 140 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Astec Industries by 114.1% during the second quarter. State of Wisconsin Investment Board now owns 68,500 shares of the industrial products company’s stock worth $3,802,000 after buying an additional 36,500 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Astec Industries by 8.4% during the second quarter. Legal & General Group Plc now owns 56,156 shares of the industrial products company’s stock worth $3,117,000 after buying an additional 4,354 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Astec Industries by 21.0% during the third quarter. Gamco Investors INC. ET AL now owns 1,274,239 shares of the industrial products company’s stock worth $71,370,000 after buying an additional 221,167 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Astec Industries by 83.8% during the second quarter. Cubist Systematic Strategies LLC now owns 6,675 shares of the industrial products company’s stock worth $371,000 after buying an additional 3,044 shares during the last quarter. Institutional investors own 79.95% of the company’s stock.

Shares of Astec Industries, Inc. (ASTE) opened at $54.53 on Tuesday. The firm has a market cap of $1,259.15, a P/E ratio of 32.49, a P/E/G ratio of 3.39 and a beta of 1.05. Astec Industries, Inc. has a 12 month low of $45.70 and a 12 month high of $73.37.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). The business had revenue of $252.10 million for the quarter, compared to the consensus estimate of $261.06 million. Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. equities analysts anticipate that Astec Industries, Inc. will post 1.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Friday, November 10th. Astec Industries’s payout ratio is presently 23.81%.

A number of research firms recently weighed in on ASTE. Robert W. Baird raised shares of Astec Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $56.00 to $65.00 in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research raised shares of Astec Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, TheStreet downgraded shares of Astec Industries from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Astec Industries currently has a consensus rating of “Hold” and an average price target of $75.00.

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Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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Institutional Ownership by Quarter for Astec Industries (NASDAQ:ASTE)

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