Insider Selling: Richard A. Patek Sells 6,200 Shares of Astec Industries Stock (ASTE)
Astec Industries (NASDAQ:ASTE) Insider Richard A. Patek unloaded 6,200 shares of Astec Industries stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $41.52, for a total value of $257,424.00. Following the completion of the sale, the insider now directly owns 6,575 shares of the company’s stock, valued at approximately $272,994. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of Astec Industries from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $37.00 price target on the stock. One analyst has rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.75.
Shares of Astec Industries (NASDAQ:ASTE) traded up 0.12% during mid-day trading on Monday, hitting $41.22. The stock had a trading volume of 65,061 shares. Astec Industries has a 52-week low of $33.23 and a 52-week high of $46.00. The stock’s 50-day moving average is $40.71 and its 200-day moving average is $41.02. The company has a market cap of $944.6 million and a price-to-earnings ratio of 24.51.
Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $277.30 million for the quarter, compared to the consensus estimate of $264.26 million. During the same quarter last year, the company posted $0.48 earnings per share. Astec Industries’s revenue was up 11.8% compared to the same quarter last year. Analysts expect that Astec Industries will post $1.94 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, August 8th.
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities.
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