Astec Industries (NASDAQ:ASTE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Astec Industries (NASDAQ:ASTE) from a hold rating to a buy rating in a report issued on Monday.

Separately, Robert W. Baird boosted their price target on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Price Performance

ASTE stock opened at $37.28 on Monday. The company’s 50-day moving average price is $32.18 and its two-hundred day moving average price is $32.39. The firm has a market cap of $849.98 million, a P/E ratio of -464.07 and a beta of 1.26. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The business had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is presently -649.92%.

Hedge Funds Weigh In On Astec Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Capital Management LLC grew its stake in shares of Astec Industries by 100.8% during the first quarter. SG Capital Management LLC now owns 209,685 shares of the industrial products company’s stock worth $9,165,000 after buying an additional 105,280 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Astec Industries by 96.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 171,101 shares of the industrial products company’s stock worth $5,465,000 after acquiring an additional 84,202 shares during the last quarter. Russell Investments Group Ltd. grew its position in Astec Industries by 251.0% during the 1st quarter. Russell Investments Group Ltd. now owns 96,480 shares of the industrial products company’s stock worth $4,217,000 after acquiring an additional 68,991 shares during the last quarter. John G Ullman & Associates Inc. increased its holdings in Astec Industries by 64.3% in the 3rd quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company’s stock worth $4,290,000 after purchasing an additional 52,571 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in shares of Astec Industries by 41.0% during the second quarter. Peregrine Capital Management LLC now owns 175,738 shares of the industrial products company’s stock valued at $5,212,000 after purchasing an additional 51,141 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

About Astec Industries

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.