Assenagon Asset Management S.A. acquired a new stake in shares of Astec Industries, Inc. (NASDAQ:ASTE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,414 shares of the industrial products company’s stock, valued at approximately $251,000.
Other large investors have also recently added to or reduced their stakes in the company. Capital Square LLC bought a new stake in Astec Industries during the 1st quarter valued at about $31,000. Man Group plc bought a new stake in shares of Astec Industries in the fourth quarter worth approximately $259,000. SG Americas Securities LLC grew its stake in shares of Astec Industries by 62.7% in the first quarter. SG Americas Securities LLC now owns 7,469 shares of the industrial products company’s stock worth $261,000 after acquiring an additional 2,878 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Astec Industries in the first quarter worth approximately $271,000. Finally, Royal Bank of Canada grew its stake in shares of Astec Industries by 111.1% in the first quarter. Royal Bank of Canada now owns 8,538 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 4,493 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.
ASTE opened at $44.49 on Friday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 35.31 and a beta of 1.23. The company’s 50 day moving average is $45.15 and its 200 day moving average is $40.82. Astec Industries, Inc. has a 12-month low of $25.17 and a 12-month high of $49.18.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.61. The company had revenue of $288.80 million for the quarter, compared to the consensus estimate of $291.53 million. Astec Industries had a net margin of 2.53% and a return on equity of 6.99%. The company’s revenue was down 11.4% on a year-over-year basis. As a group, research analysts predict that Astec Industries, Inc. will post 1.3 EPS for the current fiscal year.
A number of brokerages have recently commented on ASTE. BidaskClub lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Sidoti lowered shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a research note on Thursday, April 23rd. Finally, Robert W. Baird lifted their price target on shares of Astec Industries from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.50.
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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
Further Reading: Price to Earnings Ratio (PE)
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