Astec Industries (NASDAQ:ASTE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Astec Industries Trading Up 3.0%

Shares of ASTE stock opened at $63.93 on Friday. Astec Industries has a 12-month low of $29.65 and a 12-month high of $64.37. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. The stock’s 50-day moving average price is $51.71 and its 200-day moving average price is $48.03. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 2.35 and a beta of 1.38.

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

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 9th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.8%. Astec Industries’s payout ratio is 30.95%.

Institutional Trading of Astec Industries

A number of institutional investors have recently bought and sold shares of ASTE. Royal Bank of Canada boosted its stake in Astec Industries by 15.6% during the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company’s stock worth $2,262,000 after buying an additional 8,847 shares during the period. AQR Capital Management LLC bought a new stake in shares of Astec Industries in the 1st quarter worth about $1,526,000. Millennium Management LLC lifted its holdings in shares of Astec Industries by 188.2% in the 1st quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company’s stock worth $5,111,000 after acquiring an additional 96,883 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Astec Industries by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company’s stock worth $2,259,000 after purchasing an additional 1,358 shares during the period. Finally, Jane Street Group LLC grew its holdings in Astec Industries by 2.9% during the 1st quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company’s stock valued at $1,604,000 after purchasing an additional 1,305 shares during the last quarter. 93.16% of the stock is currently owned by 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.