Astec Industries (NASDAQ:ASTE) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Astec Industries (NASDAQ:ASTE) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on ASTE. Wall Street Zen upgraded shares of Astec Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Longbow Research upgraded shares of Astec Industries to a “strong-buy” rating in a research note on Monday, March 16th. Finally, Freedom Capital upgraded shares of Astec Industries to a “strong-buy” rating in a research note on Wednesday, April 1st. 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Astec Industries Stock Up 3.2%

ASTE opened at $60.65 on Monday. Astec Industries has a fifty-two week low of $35.54 and a fifty-two week high of $64.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.49 and a quick ratio of 1.07. The firm’s fifty day moving average price is $57.24 and its two-hundred day moving average price is $50.86. The company has a market capitalization of $1.39 billion, a P/E ratio of 36.10, a P/E/G ratio of 2.22 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings results on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.32. Astec Industries had a net margin of 2.75% and a return on equity of 11.35%. The firm had revenue of $400.60 million for the quarter, compared to the consensus estimate of $374.21 million. On average, analysts anticipate that Astec Industries will post 3.78 EPS for the current year.

Astec Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, May 13th. Astec Industries’s payout ratio is currently 30.95%.

Insider Activity at Astec Industries

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the business’s stock in a transaction 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 sale, the insider owned 8,828 shares in the company, valued at approximately $539,125.96. The trade was a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. iSAM Funds UK Ltd acquired a new stake in shares of Astec Industries in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC boosted its stake in shares of Astec Industries by 8,994.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,529 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Astec Industries by 412.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 1,780 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Astec Industries in the 4th quarter valued at $127,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Astec Industries in the 3rd quarter valued at $136,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

About Astec Industries

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.