Astec Industries, Inc. (NASDAQ:ASTE) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $64.00.
Several brokerages recently commented on ASTE. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Friday, July 13th. Robert W. Baird cut shares of Astec Industries from an “outperform” rating to a “neutral” rating and cut their price target for the company from $64.00 to $53.00 in a report on Tuesday, July 24th. TheStreet cut shares of Astec Industries from a “b” rating to a “c+” rating in a report on Wednesday, July 25th. Stifel Nicolaus cut their price target on shares of Astec Industries from $65.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday, July 25th. Finally, ValuEngine cut shares of Astec Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th.
A number of large investors have recently added to or reduced their stakes in ASTE. Wells Fargo & Company MN boosted its holdings in Astec Industries by 94.0% in the first quarter. Wells Fargo & Company MN now owns 110,491 shares of the industrial products company’s stock valued at $6,097,000 after acquiring an additional 53,551 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Astec Industries by 19.7% during the 1st quarter. SG Americas Securities LLC now owns 9,055 shares of the industrial products company’s stock valued at $500,000 after buying an additional 1,491 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Astec Industries by 4.9% during the 1st quarter. Swiss National Bank now owns 34,200 shares of the industrial products company’s stock valued at $1,887,000 after buying an additional 1,600 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Astec Industries by 9.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 165,296 shares of the industrial products company’s stock valued at $9,122,000 after buying an additional 14,684 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Astec Industries by 13.9% during the 1st quarter. Aperio Group LLC now owns 11,702 shares of the industrial products company’s stock valued at $646,000 after buying an additional 1,426 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.
Shares of NASDAQ ASTE traded up $0.41 during mid-day trading on Friday, hitting $50.62. The stock had a trading volume of 213,990 shares, compared to its average volume of 118,577. Astec Industries has a 1 year low of $44.92 and a 1 year high of $64.80. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 1.51 and a beta of 1.04.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.91 by $0.12. Astec Industries had a negative net margin of 1.05% and a positive return on equity of 7.55%. The company had revenue of $347.00 million for the quarter, compared to the consensus estimate of $332.65 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. equities analysts predict that Astec Industries will post 3.3 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Monday, August 13th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $0.44 annualized dividend and a yield of 0.87%. This is a boost from Astec Industries’s previous quarterly dividend of $0.10. Astec Industries’s payout ratio is 27.85%.
Astec Industries announced that its board has authorized a stock repurchase plan on Monday, July 30th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 13.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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