Astec Industries, Inc. (ASTE) Given Consensus Rating of “Buy” by Brokerages
Shares of Astec Industries, Inc. (NASDAQ:ASTE) have been given an average recommendation of “Buy” by the eight research firms that are covering the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $65.20.
Separately, Griffin Securities reiterated a “buy” rating on shares of Astec Industries in a research report on Tuesday, March 7th.
Astec Industries (NASDAQ:ASTE) traded up 0.1864% during trading on Tuesday, hitting $57.7875. 32,470 shares of the stock were exchanged. Astec Industries has a one year low of $49.46 and a one year high of $73.37. The stock’s 50 day moving average is $61.59 and its 200-day moving average is $64.42. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 25.5697 and a beta of 1.37.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 25th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $318.40 million for the quarter, compared to analyst estimates of $291.51 million. Astec Industries had a return on equity of 7.36% and a net margin of 4.48%. Astec Industries’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 earnings per share. On average, equities research analysts expect that Astec Industries will post $2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. Astec Industries’s payout ratio is presently 19.80%.
In other Astec Industries news, Vice Chairman W Norman Smith sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $62.77, for a total transaction of $313,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Astec Industries during the first quarter worth approximately $103,000. State of Alaska Department of Revenue raised its stake in shares of Astec Industries by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,110 shares of the industrial products company’s stock worth $129,000 after buying an additional 40 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock worth $134,000 after buying an additional 1,144 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Astec Industries by 7.0% in the first quarter. Acrospire Investment Management LLC now owns 2,789 shares of the industrial products company’s stock worth $172,000 after buying an additional 183 shares during the last quarter. Finally, Pacad Investment Ltd. raised its stake in shares of Astec Industries by 40.0% in the fourth quarter. Pacad Investment Ltd. now owns 2,800 shares of the industrial products company’s stock worth $189,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 78.23% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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