Astec Industries (NASDAQ:ASTE) Hits New 52-Week Low – Time to Sell?

Astec Industries, Inc. (NASDAQ:ASTE) reached a new 52-week low during trading on Wednesday . The company traded as low as $40.47 and last traded at $41.3210, with a volume of 19338 shares traded. The stock had previously closed at $41.18.

Wall Street Analyst Weigh In

ASTE has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, Zacks Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Astec Industries currently has an average rating of “Moderate Buy”.

Astec Industries Price Performance

The company’s 50-day moving average is $51.00 and its 200-day moving average is $53.73. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $976.05 million, a price-to-earnings ratio of 49.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The business had revenue of $408.10 million for the quarter, compared to analyst estimates of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same period last year, the firm posted $0.72 EPS. Equities research analysts predict that Astec Industries, Inc. will post 3.36 earnings per share for the current year.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 10th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, August 10th. Astec Industries’s dividend payout ratio (DPR) is currently 61.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in shares of Astec Industries by 15.6% in the 1st quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock valued at $2,262,000 after purchasing an additional 8,847 shares during the period. AQR Capital Management LLC bought a new position in shares of Astec Industries in the first quarter worth $1,526,000. Millennium Management LLC grew 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 valued at $5,111,000 after buying an additional 96,883 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Astec Industries by 2.1% during 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 acquiring an additional 1,358 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Astec Industries by 2.9% in the first quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock worth $1,604,000 after purchasing an additional 1,305 shares during the period. 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.