Astec Industries (NASDAQ:ASTE) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03), Morningstar.com reports. The firm had revenue of $312.38 million during the quarter, compared to the consensus estimate of $288.14 million. Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share.
Astec Industries (ASTE) opened at $60.03 on Wednesday. The company has a market cap of $1,421.33, a PE ratio of 35.73, a price-to-earnings-growth ratio of 1.98 and a beta of 1.06. Astec Industries has a 52 week low of $45.70 and a 52 week high of $73.37.
A number of institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its stake in shares of Astec Industries by 11.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,870 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 198 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Astec Industries by 87.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock worth $203,000 after purchasing an additional 1,695 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Astec Industries by 165.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 4,094 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 2,550 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Astec Industries in the 2nd quarter worth approximately $230,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Astec Industries in the 3rd quarter worth approximately $305,000. 82.27% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently weighed in on the stock. BidaskClub downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. William Blair raised shares of Astec Industries from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 2nd. TheStreet raised shares of Astec Industries from a “c+” rating to a “b-” rating in a research note on Friday, January 5th. Seaport Global Securities reissued a “hold” rating on shares of Astec Industries in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research raised shares of Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Astec Industries presently has a consensus rating of “Buy” and a consensus target price of $73.33.
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Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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