Several other equities research analysts have also recently commented on ASTE. Zacks Investment Research cut Astec Industries from a hold rating to a strong sell rating and set a $37.00 target price for the company. in a research note on Thursday, October 31st. Sidoti assumed coverage on Astec Industries in a research note on Tuesday, October 8th. They issued a neutral rating for the company. ValuEngine raised Astec Industries from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Finally, William Blair reissued a market perform rating on shares of Astec Industries in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $39.00.
Shares of NASDAQ:ASTE traded down $0.14 during trading on Friday, hitting $38.01. 270,500 shares of the stock were exchanged, compared to its average volume of 175,114. The company’s fifty day simple moving average is $32.13 and its 200-day simple moving average is $31.18. The company has a market capitalization of $852.49 million, a price-to-earnings ratio of 13.02 and a beta of 1.47. Astec Industries has a 1-year low of $26.20 and a 1-year high of $43.26.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.14). The firm had revenue of $255.80 million during the quarter, compared to analyst estimates of $260.24 million. Astec Industries had a negative net margin of 0.53% and a positive return on equity of 6.62%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $0.30 earnings per share. As a group, analysts forecast that Astec Industries will post 1.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.44 annualized dividend and a dividend yield of 1.16%. Astec Industries’s dividend payout ratio (DPR) is currently 15.07%.
In related news, insider Jaco Van Der Merwe acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average cost of $28.00 per share, with a total value of $56,000.00. Following the completion of the purchase, the insider now directly owns 6,579 shares in the company, valued at $184,212. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stephen C. Anderson acquired 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $27.75 per share, with a total value of $61,050.00. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of Astec Industries by 144.7% during the third quarter. Tower Research Capital LLC TRC now owns 1,226 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 725 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Astec Industries by 1,360.0% during the third quarter. Quadrant Capital Group LLC now owns 1,387 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 1,292 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Astec Industries during the third quarter worth $102,000. KBC Group NV grew its stake in shares of Astec Industries by 208.7% during the second quarter. KBC Group NV now owns 5,627 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 3,804 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Astec Industries by 14.7% during the second quarter. JPMorgan Chase & Co. now owns 7,382 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 946 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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