BidaskClub upgraded shares of Astec Industries (NASDAQ:ASTE) from a sell rating to a hold rating in a research report report published on Thursday morning, BidAskClub reports.

Separately, ValuEngine upgraded Astec Industries from a strong sell rating to a sell rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of Hold and an average price target of $41.00.

NASDAQ ASTE traded up $0.43 during trading on Thursday, hitting $32.46. 113,475 shares of the company traded hands, compared to its average volume of 178,969. The company has a current ratio of 3.21, a quick ratio of 1.13 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $29.41 and a 200 day simple moving average of $33.22. The company has a market capitalization of $696.77 million, a P/E ratio of 11.12 and a beta of 1.47. Astec Industries has a 12 month low of $26.20 and a 12 month high of $52.88.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.05). The business had revenue of $304.80 million during the quarter, compared to the consensus estimate of $299.96 million. Astec Industries had a positive return on equity of 7.07% and a negative net margin of 0.20%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Equities research analysts predict that Astec Industries will post 2.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. Astec Industries’s payout ratio is presently 15.07%.

In other news, insider Jaco Van Der Merwe bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were acquired at an average cost of $28.00 per share, with a total value of $56,000.00. Following the completion of the transaction, the insider now directly owns 6,579 shares in the company, valued at $184,212. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen C. Anderson bought 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were purchased at an average cost of $27.75 per share, for a total transaction of $61,050.00. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its holdings in Astec Industries by 3.8% during the first quarter. Texas Permanent School Fund now owns 15,479 shares of the industrial products company’s stock valued at $584,000 after purchasing an additional 560 shares in the last quarter. Comerica Bank boosted its holdings in Astec Industries by 2.6% during the first quarter. Comerica Bank now owns 22,668 shares of the industrial products company’s stock valued at $908,000 after purchasing an additional 573 shares in the last quarter. BMT Investment Advisors boosted its holdings in Astec Industries by 1.4% during the second quarter. BMT Investment Advisors now owns 42,951 shares of the industrial products company’s stock valued at $1,398,000 after purchasing an additional 600 shares in the last quarter. BRYN MAWR TRUST Co boosted its holdings in Astec Industries by 0.6% during the second quarter. BRYN MAWR TRUST Co now owns 106,959 shares of the industrial products company’s stock valued at $3,483,000 after purchasing an additional 600 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Astec Industries by 14.7% during the second quarter. JPMorgan Chase & Co. now owns 7,382 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 946 shares in the last quarter. 92.98% of the stock is currently owned by institutional investors and hedge funds.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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