Astec Industries, Inc. (ASTE) Downgraded to Strong Sell at BidaskClub
Astec Industries, Inc. (NASDAQ:ASTE) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.
Separately, Griffin Securities restated a “buy” rating on shares of Astec Industries in a research note on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.00.
Shares of Astec Industries (ASTE) traded down 2.82% on Wednesday, reaching $55.23. The company had a trading volume of 116,447 shares. The stock has a market capitalization of $1.27 billion, a P/E ratio of 24.44 and a beta of 1.16. The company’s 50 day moving average price is $57.99 and its 200-day moving average price is $63.62. Astec Industries has a 1-year low of $51.73 and a 1-year high of $73.37.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Tuesday, April 25th. The industrial products company reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $318.40 million during the quarter, compared to analyst estimates of $291.51 million. Astec Industries had a return on equity of 8.09% and a net margin of 4.43%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities analysts predict that Astec Industries will post $2.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Thursday, May 11th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.72%. Astec Industries’s payout ratio is 17.62%.
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Large investors have recently made changes to their positions in the stock. 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 boosted its position in 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 valued at $129,000 after buying an additional 40 shares in the last quarter. Quantbot Technologies LP boosted its position in Astec Industries by 110.2% in the first quarter. Quantbot Technologies LP now owns 2,182 shares of the industrial products company’s stock valued at $134,000 after buying an additional 1,144 shares in the last quarter. Acrospire Investment Management LLC boosted its position in 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 valued at $172,000 after buying an additional 183 shares in the last quarter. Finally, Pacad Investment Ltd. boosted its position in Astec Industries by 40.0% in the fourth quarter. Pacad Investment Ltd. now owns 2,800 shares of the industrial products company’s stock valued at $189,000 after buying an additional 800 shares in the last quarter. 79.78% of the stock is owned by institutional investors and hedge funds.
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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