Brokerages expect Astec Industries, Inc. (NASDAQ:ASTE) to post $305.08 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Astec Industries’ earnings, with estimates ranging from $295.30 million to $311.85 million. Astec Industries reported sales of $272.53 million in the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The business is expected to announce its next quarterly earnings results on Tuesday, July 23rd.
According to Zacks, analysts expect that Astec Industries will report full year sales of $1.22 billion for the current financial year, with estimates ranging from $1.20 billion to $1.25 billion. For the next financial year, analysts anticipate that the business will report sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Astec Industries.
Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $0.63 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.19). Astec Industries had a positive return on equity of 9.53% and a negative net margin of 5.67%. The business had revenue of $325.78 million for the quarter, compared to the consensus estimate of $338.68 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis.
ASTE has been the subject of several research reports. BidaskClub raised Astec Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Robert W. Baird upped their target price on Astec Industries from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.00.
ASTE stock traded up $0.21 during mid-day trading on Thursday, reaching $31.54. 3,516 shares of the company traded hands, compared to its average volume of 124,691. The company has a quick ratio of 1.10, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $706.56 million, a P/E ratio of 10.82 and a beta of 1.46. Astec Industries has a 52-week low of $27.86 and a 52-week high of $63.69. The company has a fifty day moving average price of $30.74.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, May 14th were paid a $0.11 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.44 annualized dividend and a yield of 1.40%. Astec Industries’s payout ratio is 15.07%.
In other news, insider Jaco Van Der Merwe bought 2,000 shares of the stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $32.75 per share, with a total value of $65,500.00. Following the completion of the acquisition, the insider now owns 4,579 shares in the company, valued at $149,962.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ASTE. Public Employees Retirement System of Ohio boosted its holdings in shares of Astec Industries by 18.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 297 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Astec Industries by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,092 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 353 shares in the last quarter. Texas Permanent School Fund grew its stake in Astec Industries by 2.7% during the 4th quarter. Texas Permanent School Fund now owns 14,919 shares of the industrial products company’s stock worth $450,000 after buying an additional 388 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Astec Industries by 29.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after buying an additional 391 shares during the last quarter. Finally, Redmond Asset Management LLC grew its stake in Astec Industries by 6.9% during the 1st quarter. Redmond Asset Management LLC now owns 7,247 shares of the industrial products company’s stock worth $274,000 after buying an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 92.88% of the company’s stock.
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's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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