Wall Street analysts expect Astec Industries, Inc. (NASDAQ:ASTE) to post sales of $268.37 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Astec Industries’ earnings, with the highest sales estimate coming in at $277.70 million and the lowest estimate coming in at $259.04 million. Astec Industries posted sales of $231.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16%. The company is scheduled to announce its next earnings report on Wednesday, November 3rd.
According to Zacks, analysts expect that Astec Industries will report full-year sales of $1.12 billion for the current financial year, with estimates ranging from $1.10 billion to $1.14 billion. For the next financial year, analysts anticipate that the company will report sales of $1.23 billion, with estimates ranging from $1.22 billion to $1.24 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Astec Industries.
Astec Industries (NASDAQ:ASTE) last issued its earnings results on Tuesday, August 3rd. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Astec Industries had a return on equity of 5.89% and a net margin of 3.36%. The firm had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $304.04 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of ASTE. BlackRock Inc. boosted its position in shares of Astec Industries by 5.8% during the first quarter. BlackRock Inc. now owns 3,639,411 shares of the industrial products company’s stock valued at $274,485,000 after buying an additional 199,255 shares during the period. Victory Capital Management Inc. boosted its position in shares of Astec Industries by 50.7% during the second quarter. Victory Capital Management Inc. now owns 1,533,288 shares of the industrial products company’s stock valued at $96,505,000 after buying an additional 515,512 shares during the period. Franklin Resources Inc. boosted its position in shares of Astec Industries by 3.2% during the second quarter. Franklin Resources Inc. now owns 767,007 shares of the industrial products company’s stock valued at $48,276,000 after buying an additional 24,052 shares during the period. State Street Corp boosted its position in shares of Astec Industries by 3.7% during the second quarter. State Street Corp now owns 707,808 shares of the industrial products company’s stock valued at $44,549,000 after buying an additional 24,950 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Astec Industries by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 614,805 shares of the industrial products company’s stock valued at $38,697,000 after buying an additional 7,396 shares during the period. 92.18% of the stock is currently owned by institutional investors.
NASDAQ ASTE traded down $1.05 during trading hours on Wednesday, hitting $50.61. 77,174 shares of the company were exchanged, compared to its average volume of 118,005. The stock has a 50-day moving average price of $57.48 and a 200 day moving average price of $63.96. Astec Industries has a 52 week low of $48.41 and a 52 week high of $80.00. The stock has a market cap of $1.15 billion, a PE ratio of 33.52 and a beta of 1.35.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Wednesday, August 11th were paid a dividend of $0.11 per share. The ex-dividend date was Tuesday, August 10th. This represents a $0.44 annualized dividend and a yield of 0.87%. Astec Industries’s payout ratio is currently 18.49%.
About Astec Industries
Astec Industries, Inc engages in the manufacturing of equipment and components for the infrastructure, and aggregate and mining industries. It operates through the following segments: Infrastructure Solutions, Material Solutions, and Corporate. The Infrastructure Solutions segment markets line of asphalt plants and related components, asphalt pavers, screeds, milling machines, material transfer vehicles, stabilizers, and related ancillary equipment.
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