Astec Industries Inc. (NASDAQ:ASTE) shares traded down 6.2% during mid-day trading on Tuesday . The company traded as low as $52.56 and last traded at $54.10, with a volume of 199,471 shares trading hands. The stock had previously closed at $57.67.

A number of research analysts have issued reports on the stock. Robert W. Baird downgraded shares of Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday. Maxim Group upped their target price on shares of Astec Industries from $48.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, May 16th. Seaport Global Securities restated an “accumulate” rating on shares of Astec Industries in a research report on Tuesday, April 12th. Finally, Stifel Nicolaus increased their price target on shares of Astec Industries from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, May 17th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.89.

The stock has a 50 day moving average price of $55.63 and a 200-day moving average price of $46.49. The firm has a market capitalization of $1.26 billion and a price-to-earnings ratio of 35.38.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 26th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities analysts anticipate that Astec Industries Inc. will post $2.28 earnings per share for the current year.

In other news, insider Jeffrey L. May sold 800 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $50.09, for a total transaction of $40,072.00. Following the sale, the insider now directly owns 8,365 shares in the company, valued at $419,002.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Richard A. Patek sold 1,900 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $53.06, for a total value of $100,814.00. Following the sale, the insider now owns 1,763 shares in the company, valued at $93,544.78. The disclosure for this sale can be found here.

Other hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake 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 stake 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. Employees Retirement System of Texas boosted its stake in Astec Industries by 40.0% in the fourth quarter. Employees Retirement System of Texas now owns 66,500 shares of the company’s stock valued at $2,707,000 after buying an additional 19,000 shares during the period. Comerica Bank boosted its stake 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. Finally, Bank of Montreal Can boosted its stake 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.

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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