Astec Industries (NASDAQ:ASTE) Stock Rating Upgraded by Longbow Research

Astec Industries (NASDAQ:ASTE) was upgraded by equities researchers at Longbow Research to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on ASTE. Weiss Ratings restated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Wall Street Zen upgraded Astec Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. Finally, Zacks Research upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Astec Industries has an average rating of “Buy”.

Astec Industries Stock Down 0.4%

Shares of ASTE opened at $52.65 on Monday. The stock has a 50 day moving average price of $54.20 and a 200 day moving average price of $48.86. Astec Industries has a one year low of $29.65 and a one year high of $64.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 2.49. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.00 and a beta of 1.38.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.32. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.The company had revenue of $400.60 million for the quarter, compared to analyst estimates of $374.21 million.

Insider Buying and Selling

In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares in the company, valued at approximately $539,125.96. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in Astec Industries by 3.4% in the third quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 224 shares during the period. Horizon Investments LLC increased its position in shares of Astec Industries by 2.0% during the 3rd quarter. Horizon Investments LLC now owns 12,236 shares of the industrial products company’s stock worth $587,000 after purchasing an additional 237 shares during the last quarter. Martin & Co. Inc. TN increased 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. Swiss National Bank raised its holdings in Astec Industries by 1.5% in the 3rd quarter. Swiss National Bank now owns 39,800 shares of the industrial products company’s stock valued at $1,916,000 after buying an additional 600 shares during the period. Finally, Legal & General Group Plc raised its holdings in Astec Industries by 1.2% in the 2nd quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock valued at $2,495,000 after buying an additional 694 shares during the period. 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.