Astec Industries (NASDAQ:ASTE) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Astec Industries, Inc. (NASDAQ:ASTE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $44.17 and traded as high as $45.61. Astec Industries shares last traded at $45.51, with a volume of 138,884 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on ASTE shares. Zacks Research raised shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Astec Industries in a research note on Monday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $41.00.

Astec Industries Stock Up 0.3%

The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.04 billion, a PE ratio of 21.94, a P/E/G ratio of 2.18 and a beta of 1.43. The business’s 50-day simple moving average is $45.34 and its 200 day simple moving average is $44.18.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $350.10 million for the quarter, compared to the consensus estimate of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, November 10th. Astec Industries’s dividend payout ratio is 25.00%.

Institutional Trading of Astec Industries

Hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Astec Industries in the 2nd quarter worth approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in Astec Industries in the first quarter worth $36,000. iSAM Funds UK Ltd acquired a new position in shares of Astec Industries during the third quarter worth $50,000. Tompkins Financial Corp increased its position in shares of Astec Industries by 30.0% during the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 300 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Astec Industries by 412.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 1,780 shares during the last quarter. 93.16% of the stock is owned by hedge funds and other institutional investors.

About Astec Industries

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.