Astec Industries (NASDAQ:ASTE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $52.99 and traded as high as $61.53. Astec Industries shares last traded at $61.2340, with a volume of 673,713 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 7th. Freedom Capital upgraded Astec Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. Zacks Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 26th. Wall Street Zen lowered Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Longbow Research upgraded Astec Industries to a “strong-buy” rating in a research report on Monday, March 16th. Two investment 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.com, the company has an average rating of “Moderate Buy”.

Astec Industries Stock Down 0.8%

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.00 and a current ratio of 2.34. The stock’s fifty day simple moving average is $53.88 and its two-hundred day simple moving average is $52.99. The stock has a market capitalization of $1.41 billion, a P/E ratio of 54.67, a price-to-earnings-growth ratio of 1.55 and a beta of 1.37.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.34). The business had revenue of $396.30 million for the quarter, compared to the consensus estimate of $393.24 million. Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. As a group, research analysts expect that Astec Industries, Inc. will post 3.63 EPS for the current fiscal year.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 13th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, May 13th. Astec Industries’s dividend payout ratio is presently 46.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. iSAM Funds UK Ltd bought a new stake in shares of Astec Industries in the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC increased its stake in shares of Astec Industries by 8,994.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,529 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Astec Industries by 412.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Astec Industries during the fourth quarter worth about $127,000. Finally, LSV Asset Management acquired a new position in shares of Astec Industries in the fourth quarter worth approximately $182,000. 93.16% of the stock is owned by institutional investors and hedge funds.

About Astec Industries

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.