Astec Industries, Inc. (NASDAQ:ASTE) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $64.00.
Several equities analysts have issued reports on the company. TheStreet cut Astec Industries from a “b” rating to a “c+” rating in a research report on Wednesday, July 25th. BidaskClub raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Robert W. Baird lowered Astec Industries from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $64.00 to $53.00 in a research note on Tuesday, July 24th. Finally, Stifel Nicolaus decreased their price target on Astec Industries from $67.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, April 25th.
Several large investors have recently made changes to their positions in ASTE. Amalgamated Bank purchased a new stake in Astec Industries in the 2nd quarter valued at approximately $209,000. Dynamic Technology Lab Private Ltd purchased a new stake in Astec Industries in the 1st quarter valued at approximately $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Astec Industries in the 2nd quarter valued at approximately $242,000. Xact Kapitalforvaltning AB purchased a new stake in Astec Industries in the 1st quarter valued at approximately $257,000. Finally, Global X Management Co. LLC lifted its stake in Astec Industries by 316.7% in the 1st quarter. Global X Management Co. LLC now owns 4,667 shares of the industrial products company’s stock valued at $258,000 after buying an additional 3,547 shares in the last quarter. 91.93% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ASTE traded down $0.27 on Wednesday, hitting $48.04. 163 shares of the company’s stock were exchanged, compared to its average volume of 296,389. Astec Industries has a fifty-two week low of $44.92 and a fifty-two week high of $64.80. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.42 and a beta of 1.04.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, July 24th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.12. Astec Industries had a positive return on equity of 7.55% and a negative net margin of 1.05%. The company had revenue of $347.00 million for the quarter, compared to analysts’ expectations of $332.65 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. research analysts predict that Astec Industries will post 3.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 30th. Stockholders of record on Monday, August 13th will be paid a dividend of $0.11 per share. This is a positive change from Astec Industries’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 10th. This represents a $0.44 annualized dividend and a dividend yield of 0.92%. Astec Industries’s payout ratio is 27.85%.
Astec Industries announced that its Board of Directors has approved a stock buyback program on Monday, July 30th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 13.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
About Astec Industries
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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