Astec Industries, Inc. (ASTE) Given Average Recommendation of “Hold” by Brokerages
Astec Industries, Inc. (NASDAQ:ASTE) has earned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $75.00.
A number of research firms have weighed in on ASTE. BidaskClub downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird raised Astec Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $56.00 to $65.00 in a research note on Tuesday, October 3rd. Zacks Investment Research raised Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 4th. Finally, TheStreet downgraded Astec Industries from a “b” rating to a “c+” rating in a research note on Tuesday, October 24th.
Several large investors have recently added to or reduced their stakes in the stock. Dean Investment Associates LLC grew its position in shares of Astec Industries by 72.1% during the third quarter. Dean Investment Associates LLC now owns 96,415 shares of the industrial products company’s stock worth $5,400,000 after purchasing an additional 40,395 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Astec Industries by 5.6% during the third quarter. California Public Employees Retirement System now owns 29,998 shares of the industrial products company’s stock worth $1,680,000 after purchasing an additional 1,598 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Astec Industries during the third quarter worth about $305,000. Segall Bryant & Hamill LLC grew its position in shares of Astec Industries by 45.5% during the third quarter. Segall Bryant & Hamill LLC now owns 106,844 shares of the industrial products company’s stock worth $5,984,000 after purchasing an additional 33,394 shares in the last quarter. Finally, Royce & Associates LP grew its position in shares of Astec Industries by 51.1% during the third quarter. Royce & Associates LP now owns 372,063 shares of the industrial products company’s stock worth $20,839,000 after purchasing an additional 125,900 shares in the last quarter. Hedge funds and other institutional investors own 79.95% of the company’s stock.
Shares of Astec Industries (NASDAQ ASTE) traded up $0.08 during trading hours on Friday, hitting $53.85. The stock had a trading volume of 228,100 shares, compared to its average volume of 150,800. Astec Industries has a 1 year low of $45.70 and a 1 year high of $73.37. The company has a market capitalization of $1,240.46, a P/E ratio of 32.01, a P/E/G ratio of 3.34 and a beta of 1.05.
Astec Industries (NASDAQ:ASTE) last posted its earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The firm had revenue of $252.10 million during the quarter, compared to the consensus estimate of $261.06 million. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. equities analysts expect that Astec Industries will post 1.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, November 10th. Astec Industries’s dividend payout ratio is currently 23.81%.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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