Astec Industries Inc. (ASTE) Stock Price Down 2.2%
Astec Industries Inc. (NASDAQ:ASTE)’s share price dropped 2.2% on Friday . The company traded as low as $57.69 and last traded at $57.70, with a volume of 106,224 shares. The stock had previously closed at $59.00.
ASTE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Thursday, July 28th. Maxim Group upped their target price on Astec Industries from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Stifel Nicolaus upped their target price on Astec Industries from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. BB&T Corp. reiterated a “hold” rating on shares of Astec Industries in a report on Tuesday, July 12th. Finally, Seaport Global Securities cut Astec Industries from an “accumulate” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Astec Industries has a consensus rating of “Buy” and an average price target of $53.78.
The company has a market capitalization of $1.33 billion and a P/E ratio of 31.90. The firm’s 50 day moving average is $57.46 and its 200 day moving average is $49.21.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, July 26th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.04. The company had revenue of $294.40 million for the quarter, compared to analysts’ expectations of $283.44 million. During the same quarter last year, the firm posted $0.51 earnings per share. Astec Industries’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts predict that Astec Industries Inc. will post $2.41 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Thursday, August 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%.
In other Astec Industries news, VP Stephen C. Anderson sold 1,070 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $60.59, for a total transaction of $64,831.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman W Norman Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $60.22, for a total value of $602,200.00. Following the sale, the insider now directly owns 9,390 shares in the company, valued at $565,465.80. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Argent Capital Management LLC boosted its stake in Astec Industries by 0.5% in the fourth quarter. Argent Capital Management LLC now owns 53,925 shares of the company’s stock worth $2,195,000 after buying an additional 275 shares in the last quarter. 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 worth $1,430,000 after buying an additional 625 shares in the last quarter. 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 worth $1,336,000 after buying an additional 740 shares in the last quarter. 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 worth $2,707,000 after buying an additional 19,000 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake 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.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.