Astec Industries (NASDAQ:ASTE) Hits New 12-Month High – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE) shares reached a new 52-week high during trading on Monday . The company traded as high as $58.20 and last traded at $57.9240, with a volume of 25106 shares trading hands. The stock had previously closed at $57.43.

Analyst Upgrades and Downgrades

ASTE has been the subject of a number of research analyst reports. Wall Street Zen cut Astec Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Astec Industries has an average rating of “Hold” and a consensus price target of $41.00.

Astec Industries Stock Performance

The stock has a market capitalization of $1.32 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.49 and a beta of 1.45. The stock has a 50 day simple moving average of $47.37 and a two-hundred day simple moving average of $46.03. The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 0.48.

Hedge Funds Weigh In On Astec Industries

Institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its stake in shares of Astec Industries by 190.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 14,234 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 9,332 shares during the period. Geode Capital Management LLC lifted its holdings in Astec Industries by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock valued at $24,109,000 after purchasing an additional 11,365 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Astec Industries by 8.3% during the second quarter. Advisors Asset Management Inc. now owns 122,749 shares of the industrial products company’s stock worth $5,117,000 after purchasing an additional 9,456 shares during the period. XTX Topco Ltd acquired a new position in shares of Astec Industries in the second quarter valued at $1,374,000. Finally, American Century Companies Inc. raised its position in shares of Astec Industries by 49.4% in the second quarter. American Century Companies Inc. now owns 539,935 shares of the industrial products company’s stock valued at $22,510,000 after purchasing an additional 178,545 shares during the period. Institutional investors and hedge funds 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.