Astec Industries Inc. (NASDAQ:ASTE) dropped 1.4% on Tuesday . The company traded as low as $57.55 and last traded at $58.03, with a volume of 150,054 shares changing hands. The stock had previously closed at $58.83.

ASTE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Stifel Nicolaus raised their target price on Astec Industries from $50.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, May 17th. Seaport Global Securities downgraded Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Wednesday, July 6th. Maxim Group raised their target price on Astec Industries from $48.00 to $60.00 and gave the company a “buy” rating in a report on Monday, May 16th. Finally, BB&T Corp. reaffirmed a “hold” rating on shares of Astec Industries in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $49.33.

The company’s 50-day moving average price is $55.12 and its 200 day moving average price is $46.00. The stock has a market capitalization of $1.35 billion and a P/E ratio of 38.03.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, April 26th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.06. The firm had revenue of $278.70 million for the quarter, compared to analysts’ expectations of $302.55 million. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, equities analysts predict that Astec Industries Inc. will post $2.28 earnings per share for the current fiscal year.

In other Astec Industries news, insider Richard A. Patek sold 1,769 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $53.07, for a total value of $93,880.83. Following the completion of the transaction, the insider now owns 1,763 shares in the company, valued at approximately $93,562.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the vice president now owns 3,938 shares of the company’s stock, valued at approximately $193,198.28. The disclosure for this sale can be found here.

A number of institutional investors recently added to or reduced their stakes in ASTE. State of New Jersey Common Pension Fund D boosted its position in Astec Industries by 11.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,350,000 shares of the company’s stock worth $54,945,000 after buying an additional 136,000 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Astec Industries by 9.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,365,980 shares of the company’s stock worth $55,595,000 after buying an additional 120,620 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Astec Industries by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,343,421 shares of the company’s stock worth $54,678,000 after buying an additional 83,524 shares in the last quarter. Victory Capital Management Inc. boosted its position in Astec Industries by 12.1% in the fourth quarter. Victory Capital Management Inc. now owns 594,990 shares of the company’s stock worth $24,217,000 after buying an additional 64,247 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Astec Industries by 6.3% in the fourth quarter. Gabelli Funds LLC now owns 616,300 shares of the company’s stock worth $25,083,000 after buying an additional 36,300 shares in the last quarter.

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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