Astec Industries (NASDAQ:ASTE) Hits New 1-Year High – Should You Buy?

Astec Industries, Inc. (NASDAQ:ASTE)’s stock price hit a new 52-week high on Thursday . The company traded as high as $50.92 and last traded at $50.7650, with a volume of 30596 shares traded. The stock had previously closed at $50.02.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Zacks Research raised Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Astec Industries Trading Down 3.0%

The stock has a market cap of $1.10 billion, a PE ratio of 23.22, a PEG ratio of 2.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.01 and a current ratio of 2.58. The stock has a fifty day moving average price of $45.65 and a 200 day moving average price of $45.12.

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

Institutional Trading of Astec Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of ASTE. Amalgamated Bank raised its position in Astec Industries by 3.4% during the third quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 224 shares during the period. Horizon Investments LLC grew its position in shares of Astec Industries by 2.0% in the third quarter. Horizon Investments LLC now owns 12,236 shares of the industrial products company’s stock valued at $587,000 after purchasing an additional 237 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Astec Industries by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 15,880 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 274 shares in the last quarter. Martin & Co. Inc. TN raised its position in shares of Astec Industries by 0.5% during the 3rd quarter. Martin & Co. Inc. TN now owns 80,973 shares of the industrial products company’s stock worth $3,897,000 after purchasing an additional 373 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Astec Industries by 1.5% during the 3rd quarter. Swiss National Bank now owns 39,800 shares of the industrial products company’s stock worth $1,916,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Company Profile

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.