Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) insider Michael Paul Norris purchased 1,000 shares of Astec Industries stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $33.46 per share, for a total transaction of $33,460.00. Following the completion of the purchase, the insider now owns 15,886 shares of the company's stock, valued at $531,545.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Astec Industries Trading Up 1.3 %
Astec Industries stock opened at $33.79 on Thursday. Astec Industries, Inc. has a 12 month low of $28.97 and a 12 month high of $56.33. The company has a market capitalization of $769.06 million, a price-to-earnings ratio of 31.00 and a beta of 1.40. The business's fifty day simple moving average is $41.12 and its two-hundred day simple moving average is $36.98. The company has a current ratio of 2.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19.
Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.47). The firm had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The business's revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, equities analysts predict that Astec Industries, Inc. will post 2.44 earnings per share for the current fiscal year.
Astec Industries Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries's dividend payout ratio (DPR) is currently 47.71%.
Hedge Funds Weigh In On Astec Industries
Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Astec Industries by 32.0% during the 1st quarter. GAMMA Investing LLC now owns 1,646 shares of the industrial products company's stock valued at $72,000 after purchasing an additional 399 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its holdings in shares of Astec Industries by 8.2% during the third quarter. Financial Engines Advisors L.L.C. now owns 5,749 shares of the industrial products company's stock valued at $271,000 after purchasing an additional 436 shares in the last quarter. Swiss National Bank boosted its position in shares of Astec Industries by 1.8% during the third quarter. Swiss National Bank now owns 50,000 shares of the industrial products company's stock valued at $2,356,000 after buying an additional 900 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Astec Industries by 22.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,075 shares of the industrial products company's stock worth $226,000 after buying an additional 1,120 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Astec Industries in the 4th quarter worth about $42,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ASTE has been the topic of a number of research reports. Stifel Nicolaus cut shares of Astec Industries from a "buy" rating to a "hold" rating and dropped their target price for the company from $47.00 to $37.00 in a report on Thursday, May 2nd. StockNews.com cut shares of Astec Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 2nd.
View Our Latest Stock Analysis on Astec Industries
Astec Industries Company Profile
(
Get Free Report)
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. 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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