Key Points
- Insider sold 975 shares: Edward Terrell Gilbert, Jr. sold 975 Astec (NASDAQ:ASTE) shares on March 3 at an average price of $61.07, reducing his stake by 9.95% to 8,828 shares, per an SEC filing.
- Stock down and valuation: ASTE traded down 4.4% to $57.87, with a market capitalization of $1.33 billion, a P/E of 34.45, and a 52‑week range of $29.65–$64.37.
- Quarterly beat and dividend: Astec reported Q4 EPS of $1.06 (vs. $0.74 estimate) and revenue of $400.6M, and announced a quarterly dividend of $0.13 (annualized $0.52, yield 0.9%, ex‑dividend March 9).
Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) insider Edward Terrell Gilbert, Jr. sold 975 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares in the company, valued at $539,125.96. This trade represents a 9.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Astec Industries Trading Down 4.4%
ASTE stock traded down $2.65 during trading on Friday, reaching $57.87. 225,120 shares of the stock were exchanged, compared to its average volume of 235,602. The business has a 50 day moving average price of $52.92 and a 200-day moving average price of $48.42. Astec Industries, Inc. has a 1 year low of $29.65 and a 1 year high of $64.37. The company has a current ratio of 2.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 2.29 and a beta of 1.38.
Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.74 by $0.32. The firm had revenue of $400.60 million for the quarter, compared to analyst estimates of $374.21 million. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%.
Astec Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, March 9th. Astec Industries's dividend payout ratio (DPR) is 30.95%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ASTE. Wall Street Zen raised shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a research report on Monday, December 29th. Finally, Zacks Research raised Astec Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Astec Industries presently has an average rating of "Buy".
View Our Latest Stock Analysis on Astec Industries
Institutional Investors Weigh In On Astec Industries
Institutional investors have recently added to or reduced their stakes in the business. Penn Capital Management Company LLC purchased a new position in Astec Industries in the third quarter worth $10,096,000. Millennium Management LLC grew its stake in shares of Astec Industries by 142.3% during the 4th quarter. Millennium Management LLC now owns 347,231 shares of the industrial products company's stock worth $15,042,000 after purchasing an additional 203,911 shares during the period. American Century Companies Inc. increased its holdings in shares of Astec Industries by 49.4% in the 2nd quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company's stock valued at $22,510,000 after purchasing an additional 178,545 shares in the last quarter. Harvey Partners LLC lifted its stake in shares of Astec Industries by 48.3% in the third quarter. Harvey Partners LLC now owns 501,000 shares of the industrial products company's stock valued at $24,113,000 after purchasing an additional 163,155 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Astec Industries by 1,800.5% in the third quarter. New York State Common Retirement Fund now owns 142,388 shares of the industrial products company's stock valued at $6,853,000 after purchasing an additional 134,896 shares during the period. Hedge funds and other institutional investors own 93.16% of the company's stock.
Astec Industries Company Profile
(
Get Free Report)
Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec's product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.
Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.
Further Reading
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