Astec Industries, Inc. (NASDAQ:ASTE) – Dougherty & Co lifted their FY2018 earnings estimates for Astec Industries in a research note issued on Wednesday, Zacks Investment Research reports. Dougherty & Co analyst J. Fisher now expects that the industrial products company will earn $3.57 per share for the year, up from their previous forecast of $2.82. Dougherty & Co has a “Buy” rating and a $70.00 price target on the stock.
A number of other research analysts have also recently commented on ASTE. BidaskClub cut Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 4th. William Blair upgraded Astec Industries from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 2nd. TheStreet upgraded Astec Industries from a “c+” rating to a “b-” rating in a research note on Friday, January 5th. Finally, Seaport Global Securities restated a “hold” rating on shares of Astec Industries in a research note on Tuesday, January 23rd. 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 company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.33.
Shares of Astec Industries (NASDAQ ASTE) traded down $0.50 during trading on Monday, reaching $58.74. The company had a trading volume of 96,479 shares, compared to its average volume of 181,671. The stock has a market capitalization of $1,391.26, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 1.74 and a beta of 1.07. Astec Industries has a 52 week low of $45.70 and a 52 week high of $66.66.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). The business had revenue of $312.38 million during the quarter, compared to analysts’ expectations of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share.
A number of large investors have recently bought and sold shares of ASTE. Ameritas Investment Partners Inc. grew its holdings in shares of Astec Industries by 11.8% during the second quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 198 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Astec Industries by 9.6% during the second quarter. Voya Investment Management LLC now owns 9,298 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 813 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Astec Industries by 3.0% during the fourth quarter. California Public Employees Retirement System now owns 30,898 shares of the industrial products company’s stock worth $1,808,000 after purchasing an additional 900 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Astec Industries by 9.4% during the second quarter. The Manufacturers Life Insurance Company now owns 16,482 shares of the industrial products company’s stock worth $915,000 after purchasing an additional 1,414 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC grew its holdings in shares of Astec Industries by 3.2% during the third quarter. Morgan Dempsey Capital Management LLC now owns 47,183 shares of the industrial products company’s stock worth $2,643,000 after buying an additional 1,447 shares during the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 12th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Friday, March 9th. Astec Industries’s payout ratio is currently 24.69%.
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About Astec Industries
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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