Astec Industries (NASDAQ:ASTE) Sets New 1-Year Low – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE) shares hit a new 52-week low during trading on Friday. The company traded as low as $38.01 and last traded at $37.8590, with a volume of 7,810 shares trading hands. The stock had previously closed at $39.56.

Wall Street Analyst Weigh In

ASTE has been the subject of several research reports. Wall Street Zen cut Astec Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Zacks Research raised Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Astec Industries Stock Performance

The stock has a 50 day moving average price of $41.38 and a two-hundred day moving average price of $49.63. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market cap of $876.72 million, a price-to-earnings ratio of 45.02, a P/E/G ratio of 1.07 and a beta of 1.33.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $408.10 million during the quarter, compared to the consensus estimate of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%. During the same quarter in the prior year, the business earned $0.72 earnings per share. Analysts predict that Astec Industries, Inc. will post 3.35 EPS for the current year.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 10th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, August 10th. This represents a $0.52 dividend on an annualized basis and a yield of 1.4%. Astec Industries’s dividend payout ratio (DPR) is 61.18%.

Hedge Funds Weigh In On Astec Industries

Several institutional investors have recently modified their holdings of ASTE. BlackRock Inc. acquired a new stake in shares of Astec Industries in the 2nd quarter valued at approximately $212,732,000. Dimensional Fund Advisors LP boosted its position in shares of Astec Industries by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,433,501 shares of the industrial products company’s stock worth $77,176,000 after purchasing an additional 22,154 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Astec Industries by 105.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 301,598 shares of the industrial products company’s stock valued at $12,136,000 after buying an additional 154,802 shares in the last quarter. Heartland Advisors Inc. bought a new stake in shares of Astec Industries in the 2nd quarter valued at $14,783,000. Finally, Bank of New York Mellon Corp acquired a new stake in Astec Industries during the 2nd quarter worth $13,538,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Company Profile

Astec Industries, Inc (NASDAQ: ASTE) designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.