Metropolitan Life Insurance Co. NY cut its position in shares of Astec Industries, Inc. (NASDAQ:ASTE) by 53.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,695 shares of the industrial products company’s stock after selling 7,762 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Astec Industries were worth $392,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crestline Management LP bought a new stake in shares of Astec Industries during the fourth quarter valued at approximately $952,000. Millennium Management LLC increased its position in shares of Astec Industries by 402.1% during the fourth quarter. Millennium Management LLC now owns 65,565 shares of the industrial products company’s stock valued at $3,836,000 after purchasing an additional 52,508 shares during the period. Empire Life Investments Inc. bought a new stake in shares of Astec Industries during the fourth quarter valued at approximately $2,631,000. Two Sigma Investments LP increased its position in shares of Astec Industries by 218.9% during the fourth quarter. Two Sigma Investments LP now owns 85,295 shares of the industrial products company’s stock valued at $4,990,000 after purchasing an additional 58,548 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Astec Industries by 14.1% during the fourth quarter. Two Sigma Advisers LP now owns 15,363 shares of the industrial products company’s stock valued at $899,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 93.43% of the company’s stock.
Shares of ASTE stock opened at $57.09 on Tuesday. The firm has a market capitalization of $1,292.28, a P/E ratio of 36.13, a P/E/G ratio of 1.64 and a beta of 1.13. Astec Industries, Inc. has a one year low of $45.70 and a one year high of $66.66.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Friday, March 9th. Astec Industries’s dividend payout ratio is 25.32%.
A number of analysts have recently issued reports on ASTE shares. BidaskClub cut Astec Industries from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Astec Industries from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Tuesday, January 9th. William Blair upgraded Astec Industries from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 2nd. Dougherty & Co raised Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, February 21st. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $64.00 price target on shares of Astec Industries in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $68.00.
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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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