Insider Selling: Astec Industries Insider Sells 1,250 Shares of Stock (ASTE)
Astec Industries (NASDAQ:ASTE) Insider Jeffrey L. Richmond sold 1,250 shares of the stock on the open market in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $41.36, for a total transaction of $51,700.00. Following the completion of the sale, the insider now directly owns 45 shares of the company’s stock, valued at approximately $1,861. The transaction 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 research analyst has rated the stock with a sell rating and two have given a buy rating to the stock. Astec Industries has a consensus rating of “Hold” and an average price target of $42.75.
Shares of Astec Industries (NASDAQ:ASTE) traded up 0.92% on Tuesday, hitting $41.60. 17,931 shares of the company’s stock traded hands. 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 $953.3 million and a price-to-earnings ratio of 24.54.
Astec Industries (NASDAQ:ASTE) last released its earnings data on Tuesday, July 22nd. The company reported $0.63 earnings per share for the quarter, meeting the analysts’ 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. On average, analysts predict that Astec Industries will post $1.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend 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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