Astec Industries, Inc. (NASDAQ:ASTE) Short Interest Down 6.8% in March

Astec Industries, Inc. (NASDAQ:ASTEGet Free Report) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 521,400 shares, a drop of 6.8% from the February 29th total of 559,500 shares. Approximately 2.3% of the company’s stock are short sold. Based on an average daily volume of 132,800 shares, the days-to-cover ratio is currently 3.9 days.

Astec Industries Price Performance

ASTE stock opened at $42.69 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 2.41. Astec Industries has a one year low of $28.97 and a one year high of $56.33. The company has a market capitalization of $970.77 million, a PE ratio of 29.04 and a beta of 1.38. The company’s fifty day moving average price is $38.45 and its 200-day moving average price is $37.89.

Astec Industries (NASDAQ:ASTEGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.28. The company had revenue of $337.20 million during the quarter, compared to analysts’ expectations of $332.33 million. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. On average, equities analysts anticipate that Astec Industries will post 2.88 EPS for the current fiscal year.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 11th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.52 dividend on an annualized basis and a yield of 1.22%. Astec Industries’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASTE. StockNews.com raised Astec Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. Stifel Nicolaus raised their price target on shares of Astec Industries from $41.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, December 19th.

Check Out Our Latest Stock Analysis on ASTE

Institutional Investors Weigh In On Astec Industries

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Astec Industries by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,123 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 196 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Astec Industries by 2.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,804 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 218 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Astec Industries by 6.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,055 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 300 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Astec Industries by 29.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,476 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 340 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Astec Industries by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,397 shares of the industrial products company’s stock valued at $336,000 after purchasing an additional 401 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

Astec Industries Company Profile

(Get Free Report)

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.

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