Astec Industries’ (ASTE) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c+) rating on shares of Astec Industries (NASDAQ:ASTE) in a research note released on Thursday morning,Weiss Ratings reports.

Separately, Zacks Research upgraded Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Astec Industries currently has a consensus rating of “Hold” and an average price target of $41.00.

Astec Industries Trading Down 0.5%

Shares of ASTE stock opened at $46.53 on Thursday. The company has a quick ratio of 1.08, a current ratio of 2.71 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $47.17 and a two-hundred day moving average price of $42.51. Astec Industries has a 12-month low of $29.65 and a 12-month high of $50.83. The firm has a market cap of $1.06 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.32 and a beta of 1.43.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.60 by $0.28. The firm had revenue of $330.30 million for the quarter, compared to the consensus estimate of $361.00 million. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 10th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, November 10th. Astec Industries’s payout ratio is currently 26.13%.

Insider Transactions at Astec Industries

In related news, insider Barend Snyman sold 2,498 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the transaction, the insider owned 15,559 shares in the company, valued at $734,695.98. The trade was a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Astec Industries during the 2nd quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Astec Industries during the 1st quarter worth approximately $36,000. Tompkins Financial Corp grew its holdings in shares of Astec Industries by 30.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 300 shares during the period. CWM LLC grew its holdings in shares of Astec Industries by 264.6% during the 1st quarter. CWM LLC now owns 2,483 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 1,802 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Astec Industries by 412.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after acquiring an additional 1,780 shares during the period. Hedge funds and other institutional investors own 93.16% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers 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 engineering and environmental permitting services.