Astec Industries (NASDAQ:ASTE – Get Rating) released its earnings results on Wednesday. The industrial products company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.30, MarketWatch Earnings reports. The firm had revenue of $291.20 million for the quarter, compared to analysts’ expectations of $286.56 million. Astec Industries had a return on equity of 4.75% and a net margin of 1.62%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share.
Shares of NASDAQ:ASTE traded down $0.25 during trading on Friday, hitting $42.32. The company’s stock had a trading volume of 162,183 shares, compared to its average volume of 148,135. The business has a 50 day moving average price of $42.42 and a two-hundred day moving average price of $56.44. The company has a market capitalization of $963.63 million, a PE ratio of 72.97 and a beta of 1.30. Astec Industries has a fifty-two week low of $36.31 and a fifty-two week high of $75.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.48 annualized dividend and a yield of 1.13%. Astec Industries’s dividend payout ratio (DPR) is presently 82.76%.
Institutional investors have recently added to or reduced their stakes in the company. Credit Suisse AG raised its holdings in shares of Astec Industries by 3.9% in the fourth quarter. Credit Suisse AG now owns 18,408 shares of the industrial products company’s stock valued at $1,276,000 after buying an additional 693 shares during the last quarter. California State Teachers Retirement System grew its position in Astec Industries by 2.5% during the fourth quarter. California State Teachers Retirement System now owns 30,644 shares of the industrial products company’s stock worth $2,123,000 after buying an additional 758 shares during the period. Jane Street Group LLC lifted its holdings in shares of Astec Industries by 23.8% in the third quarter. Jane Street Group LLC now owns 5,192 shares of the industrial products company’s stock valued at $279,000 after purchasing an additional 998 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Astec Industries by 23.7% in the third quarter. Royal Bank of Canada now owns 7,443 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 1,425 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Astec Industries by 2.9% in the fourth quarter. Legal & General Group Plc now owns 66,843 shares of the industrial products company’s stock valued at $4,631,000 after purchasing an additional 1,897 shares in the last quarter. 94.52% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on ASTE. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research downgraded Astec Industries from a “hold” rating to a “strong sell” rating and set a $47.00 target price on the stock. in a research report on Friday, February 18th. Finally, Robert W. Baird downgraded Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Friday, April 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.50.
About Astec Industries (Get Rating)
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.
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