Astec Industries Inc. (ASTE) Hits New 12-Month High at $58.57
Shares of Astec Industries Inc. (NASDAQ:ASTE) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $58.57 and last traded at $58.46, with a volume of 75,475 shares traded. The stock had previously closed at $57.21.
A number of research firms have issued reports on ASTE. Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating and set a $54.00 target price for the company in a research report on Thursday, April 28th. Maxim Group raised their target price on Astec Industries from $48.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, May 16th. Seaport Global Securities reissued an “accumulate” rating on shares of Astec Industries in a research report on Tuesday, April 12th. Finally, Stifel Nicolaus raised their target price on Astec Industries from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, May 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $49.33.
The company has a market capitalization of $1.34 billion and a P/E ratio of 37.69. The firm’s 50-day moving average is $54.71 and its 200 day moving average is $45.70.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. During the same period last year, the company posted $0.65 earnings per share. The business earned $278.70 million during the quarter, compared to the consensus estimate of $302.55 million. The business’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Astec Industries Inc. will post $2.28 EPS for the current year.
In related news, VP Jeffrey J. Elliott sold 2,718 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $49.06, for a total value of $133,345.08. Following the transaction, the vice president now directly owns 3,938 shares of the company’s stock, valued at approximately $193,198.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Malcolm L. Swanson sold 2,987 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $49.33, for a total value of $147,348.71. Following the completion of the transaction, the insider now directly owns 160 shares in the company, valued at $7,892.80. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. Rhumbline Advisers boosted its position in Astec Industries by 2.3% in the fourth quarter. Rhumbline Advisers now owns 32,821 shares of the company’s stock valued at $1,336,000 after buying an additional 740 shares during the period. California State Teachers Retirement System boosted its position in Astec Industries by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 35,138 shares of the company’s stock valued at $1,430,000 after buying an additional 625 shares during the period. Comerica Bank boosted its position in Astec Industries by 38.7% in the fourth quarter. Comerica Bank now owns 71,708 shares of the company’s stock valued at $2,576,000 after buying an additional 20,015 shares during the period. Bank of Montreal Can boosted its position in Astec Industries by 4.0% in the fourth quarter. Bank of Montreal Can now owns 234,849 shares of the company’s stock valued at $9,559,000 after buying an additional 8,958 shares during the period. Finally, Teton Advisors Inc. boosted its position in Astec Industries by 6.7% in the fourth quarter. Teton Advisors Inc. now owns 327,560 shares of the company’s stock valued at $13,332,000 after buying an additional 20,600 shares during the period.
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.
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