Astec Industries, Inc. (NASDAQ:ASTE) has been given a consensus rating of “Hold” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $79.50.
A number of research analysts have recently commented on ASTE shares. Stifel Nicolaus upgraded Astec Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $81.00 in a report on Thursday, May 6th. Zacks Investment Research downgraded Astec Industries from a “buy” rating to a “hold” rating and set a $81.00 price objective on the stock. in a report on Tuesday, May 4th. TheStreet downgraded Astec Industries from a “b” rating to a “c+” rating in a report on Wednesday, May 5th. Finally, Robert W. Baird upped their target price on Astec Industries from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, March 1st.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP lifted its position in Astec Industries by 78.1% during the 4th quarter. First Trust Advisors LP now owns 73,303 shares of the industrial products company’s stock worth $4,243,000 after acquiring an additional 32,136 shares during the period. GSA Capital Partners LLP lifted its position in Astec Industries by 291.1% during the 4th quarter. GSA Capital Partners LLP now owns 21,646 shares of the industrial products company’s stock worth $1,253,000 after acquiring an additional 16,112 shares during the period. US Bancorp DE lifted its position in Astec Industries by 130.2% during the 4th quarter. US Bancorp DE now owns 2,251 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 1,273 shares during the period. Ellevest Inc. acquired a new stake in Astec Industries during the 4th quarter worth approximately $27,000. Finally, Redwood Investments LLC acquired a new stake in Astec Industries during the 4th quarter worth approximately $14,268,000. 91.61% of the stock is owned by hedge funds and other institutional investors.
Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, May 4th. The industrial products company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.42). Astec Industries had a net margin of 3.44% and a return on equity of 6.62%. The business had revenue of $284.40 million during the quarter, compared to analysts’ expectations of $311.45 million. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that Astec Industries will post 2.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 27th. Investors of record on Tuesday, May 11th were given a $0.11 dividend. The ex-dividend date was Monday, May 10th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.68%. Astec Industries’s dividend payout ratio (DPR) is presently 18.49%.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company's Infrastructure Solutions segment designs, engineers, manufactures, and markets 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 offers engineering and environmental permitting services.
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