Jaco Van Der Merwe Purchases 2,000 Shares of Astec Industries, Inc. (NASDAQ:ASTE) Stock

Astec Industries, Inc. (NASDAQ:ASTE) insider Jaco Van Der Merwe acquired 2,000 shares of Astec Industries stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average price of $28.00 per share, for a total transaction of $56,000.00. Following the transaction, the insider now directly owns 6,579 shares in the company, valued at $184,212. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ASTE stock traded down $0.55 during midday trading on Friday, reaching $27.41. 28,085 shares of the stock were exchanged, compared to its average volume of 136,165. The stock has a market capitalization of $627.91 million, a PE ratio of 9.39 and a beta of 1.44. Astec Industries, Inc. has a 52 week low of $27.49 and a 52 week high of $52.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.21 and a quick ratio of 1.13. The company has a fifty day moving average price of $30.70 and a 200 day moving average price of $34.15.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results 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). Astec Industries had a negative net margin of 0.20% and a positive return on equity of 7.07%. The company had revenue of $304.80 million during the quarter, compared to the consensus estimate of $299.96 million. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, analysts anticipate that Astec Industries, Inc. will post 2.04 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.61%. Astec Industries’s dividend payout ratio (DPR) is presently 15.07%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in shares of Astec Industries by 9.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,350,011 shares of the industrial products company’s stock valued at $43,956,000 after buying an additional 122,125 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Astec Industries by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 661,716 shares of the industrial products company’s stock valued at $21,546,000 after buying an additional 10,081 shares during the last quarter. Investment Counselors of Maryland LLC grew its position in shares of Astec Industries by 1.1% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 494,133 shares of the industrial products company’s stock valued at $16,089,000 after buying an additional 5,435 shares during the last quarter. Teton Advisors Inc. grew its position in shares of Astec Industries by 7.6% in the 2nd quarter. Teton Advisors Inc. now owns 330,600 shares of the industrial products company’s stock valued at $10,764,000 after buying an additional 23,400 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Astec Industries in the 4th quarter valued at about $8,478,000. Hedge funds and other institutional investors own 92.56% of the company’s stock.

ASTE has been the topic of a number of research reports. BidaskClub lowered Astec Industries from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine upgraded Astec Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 27th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Astec Industries has a consensus rating of “Hold” and an average target price of $41.00.

Astec Industries Company Profile

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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