ValuEngine upgraded shares of Astec Industries (NASDAQ:ASTE) from a sell rating to a hold rating in a report published on Wednesday morning.
Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Astec Industries from $67.00 to $65.00 and set a buy rating for the company in a report on Wednesday, April 25th. Robert W. Baird reiterated a buy rating and issued a $64.00 price target on shares of Astec Industries in a report on Friday, April 13th. BidaskClub cut shares of Astec Industries from a hold rating to a sell rating in a report on Thursday, March 1st. Dougherty & Co upgraded shares of Astec Industries from a neutral rating to a buy rating and set a $70.00 price target for the company in a report on Wednesday, February 21st. Finally, William Blair reiterated a buy rating on shares of Astec Industries in a report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $67.25.
Astec Industries stock opened at $56.50 on Wednesday. The company has a market capitalization of $1.33 billion, a PE ratio of 35.76, a P/E/G ratio of 1.70 and a beta of 1.15. Astec Industries has a twelve month low of $45.70 and a twelve month high of $64.80.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $325.50 million during the quarter, compared to analysts’ expectations of $336.32 million. Astec Industries had a net margin of 3.60% and a return on equity of 6.09%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. sell-side analysts expect that Astec Industries will post 3.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Monday, May 14th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, May 11th. Astec Industries’s dividend payout ratio is presently 25.32%.
In other news, CEO Benjamin G. Brock sold 11,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $54.41, for a total value of $598,510.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System lifted its position in shares of Astec Industries by 3.0% in the fourth quarter. California Public Employees Retirement System now owns 30,898 shares of the industrial products company’s stock worth $1,808,000 after purchasing an additional 900 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Astec Industries in the fourth quarter worth $393,000. Stone Ridge Asset Management LLC bought a new stake in shares of Astec Industries in the fourth quarter worth $890,000. Two Sigma Investments LP lifted its position in shares of Astec Industries by 218.9% in the fourth quarter. Two Sigma Investments LP now owns 85,295 shares of the industrial products company’s stock worth $4,990,000 after purchasing an additional 58,548 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Astec Industries by 61.5% in the third quarter. Wells Fargo & Company MN now owns 47,368 shares of the industrial products company’s stock worth $2,653,000 after purchasing an additional 18,031 shares in the last quarter. 93.30% of the stock is currently owned by institutional investors and hedge funds.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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