Astec Industries, Inc. (NASDAQ:ASTE) VP Stephen C. Anderson purchased 2,200 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were acquired at an average price of $27.75 per share, for a total transaction of $61,050.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of NASDAQ ASTE opened at $32.03 on Friday. The business’s 50 day moving average price is $29.41 and its 200 day moving average price is $33.22. The firm has a market cap of $696.77 million, a P/E ratio of 10.97 and a beta of 1.47. Astec Industries, Inc. has a 52 week low of $26.20 and a 52 week high of $52.88. The company has a quick ratio of 1.13, a current ratio of 3.21 and a debt-to-equity ratio of 0.05.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.05). The firm had revenue of $304.80 million during the quarter, compared to analysts’ expectations of $299.96 million. Astec Industries had a negative net margin of 0.20% and a positive return on equity of 7.07%. Astec Industries’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. As a group, research analysts expect that Astec Industries, Inc. will post 2.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, August 9th. Astec Industries’s payout ratio is presently 15.07%.
A number of large investors have recently made changes to their positions in ASTE. Gamco Investors INC. ET AL lifted its holdings in Astec Industries by 9.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,350,011 shares of the industrial products company’s stock valued at $43,956,000 after acquiring an additional 122,125 shares during the period. Morgan Stanley lifted its holdings in Astec Industries by 162.0% in the second quarter. Morgan Stanley now owns 177,993 shares of the industrial products company’s stock valued at $5,795,000 after acquiring an additional 110,057 shares during the period. Nuveen Asset Management LLC acquired a new position in Astec Industries in the second quarter valued at approximately $3,011,000. IndexIQ Advisors LLC acquired a new position in Astec Industries in the first quarter valued at approximately $1,592,000. Finally, Alambic Investment Management L.P. acquired a new position in Astec Industries in the second quarter valued at approximately $1,179,000. 92.98% of the stock is owned by institutional investors.
ASTE has been the topic of a number of research analyst reports. BidaskClub upgraded Astec Industries from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.00.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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