Astec Industries (ASTE) Hits New 12-Month Low at $32.03

Astec Industries, Inc. (NASDAQ:ASTE)’s share price hit a new 52-week low on Thursday . The company traded as low as $32.03 and last traded at $32.75, with a volume of 8268 shares traded. The stock had previously closed at $34.15.

A number of brokerages have recently weighed in on ASTE. BidaskClub lowered Astec Industries from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine lowered Astec Industries from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. William Blair lowered Astec Industries from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research raised Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $64.00.

The stock has a market cap of $763.72 million, a P/E ratio of 20.57 and a beta of 1.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 0.94.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.29). The company had revenue of $256.60 million during the quarter, compared to analysts’ expectations of $276.80 million. Astec Industries had a negative net margin of 0.21% and a positive return on equity of 9.06%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) earnings per share. Analysts anticipate that Astec Industries, Inc. will post 2.78 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Tuesday, November 13th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Friday, November 9th. Astec Industries’s payout ratio is currently 27.85%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in Astec Industries by 2.4% in the first quarter. Principal Financial Group Inc. now owns 146,780 shares of the industrial products company’s stock worth $8,099,000 after buying an additional 3,501 shares during the last quarter. Amalgamated Bank bought a new position in Astec Industries in the second quarter worth about $209,000. Raymond James Financial Services Advisors Inc. bought a new position in Astec Industries in the second quarter worth about $294,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Astec Industries during the second quarter worth about $242,000. Finally, Granite Investment Partners LLC grew its stake in shares of Astec Industries by 0.6% during the second quarter. Granite Investment Partners LLC now owns 259,633 shares of the industrial products company’s stock worth $15,526,000 after acquiring an additional 1,478 shares during the last quarter. 93.48% of the stock is owned by institutional investors and hedge funds.

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Astec Industries Company Profile (NASDAQ:ASTE)

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 operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.

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