Astec Industries (NASDAQ:ASTE) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Astec Industries (NASDAQ:ASTE) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Several other equities research analysts have also weighed in on ASTE. Zacks Research upgraded Astec Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Finally, Longbow Research raised Astec Industries to a “strong-buy” rating in a research note on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Astec Industries has a consensus rating of “Buy”.

Astec Industries Stock Performance

NASDAQ:ASTE opened at $52.14 on Friday. Astec Industries has a 52-week low of $29.65 and a 52-week high of $64.37. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.97 and a beta of 1.38. The firm’s 50-day moving average is $55.01 and its 200-day moving average is $49.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 2.49.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.32. The firm had revenue of $400.60 million for the quarter, compared to analyst estimates of $374.21 million. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, March 9th. Astec Industries’s dividend payout ratio is currently 30.95%.

Insider Transactions at Astec Industries

In other Astec Industries news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares of the company’s stock, valued at approximately $539,125.96. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.99% of the company’s stock.

Institutional Trading of Astec Industries

Several institutional investors and hedge funds have recently made changes to their positions in ASTE. iSAM Funds UK Ltd acquired a new stake in Astec Industries during the 3rd quarter worth $50,000. Farther Finance Advisors LLC grew its stake in Astec Industries by 8,994.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 1,529 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Astec Industries by 412.0% in the second 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Astec Industries in the fourth quarter worth about $127,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Astec Industries during the third quarter worth about $136,000. Institutional investors own 93.16% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.