Astec Industries (NASDAQ:ASTE) Upgraded to “Strong-Buy” at Longbow Research

Longbow Research upgraded shares of Astec Industries (NASDAQ:ASTE) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Finally, Zacks Research upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Astec Industries Trading Down 0.4%

Shares of ASTE stock opened at $52.65 on Monday. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.21 billion, a P/E ratio of 31.34, a P/E/G ratio of 2.00 and a beta of 1.38. Astec Industries has a twelve month low of $29.65 and a twelve month high of $64.37. The stock’s fifty day simple moving average is $54.20 and its 200 day simple moving average is $48.86.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.32. The company had revenue of $400.60 million during the quarter, compared to the consensus estimate of $374.21 million. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 9th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.52 annualized dividend and a yield of 1.0%. Astec Industries’s dividend payout ratio is presently 30.95%.

Insider Buying and Selling

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total transaction of $59,543.25. Following the completion of the sale, the insider owned 8,828 shares in the company, valued at $539,125.96. The trade was a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Astec Industries by 15.6% during the 1st quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock worth $2,262,000 after purchasing an additional 8,847 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Astec Industries in the first quarter valued at approximately $1,526,000. Millennium Management LLC boosted its holdings in Astec Industries by 188.2% during the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock worth $5,111,000 after acquiring an additional 96,883 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Astec Industries by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock valued at $2,259,000 after purchasing an additional 1,358 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Astec Industries by 2.9% during the first quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock valued at $1,604,000 after purchasing an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.