Astec Industries (NASDAQ:ASTE) Shares Cross Above 200-Day Moving Average – What’s Next?
by Teresa Graham · The Cerbat GemShares of Astec Industries, Inc. (NASDAQ:ASTE – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $44.84 and traded as high as $50.09. Astec Industries shares last traded at $49.03, with a volume of 185,355 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. Zacks Research upgraded shares of Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued 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, the stock presently has a consensus rating of “Hold” and an average target price of $41.00.
Check Out Our Latest Stock Report on Astec Industries
Astec Industries Stock Performance
The company’s 50-day moving average is $45.20 and its two-hundred day moving average is $44.91. The company has a quick ratio of 1.01, a current ratio of 2.58 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.12 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 2.13 and a beta of 1.44.
Astec Industries (NASDAQ:ASTE – Get Free Report) last released its earnings results on Wednesday, November 5th. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%. The firm had revenue of $350.10 million for the quarter, compared to analysts’ expectations of $336.00 million.
Astec Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, November 10th. Astec Industries’s dividend payout ratio (DPR) is currently 25.00%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Astec Industries in the 2nd quarter worth about $27,000. iSAM Funds UK Ltd bought a new position in Astec Industries during the third quarter worth about $50,000. Tompkins Financial Corp increased its stake in shares of Astec Industries by 30.0% in the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Astec Industries by 412.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 1,780 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Astec Industries in the third quarter valued at approximately $136,000. Hedge funds and other institutional investors 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.
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