Astec Industries (NASDAQ:ASTE) Stock Passes Above 200-Day Moving Average – Should You Sell?

Astec Industries, Inc. (NASDAQ:ASTE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.33 and traded as high as $48.85. Astec Industries shares last traded at $48.42, with a volume of 141,621 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on ASTE. Zacks Research raised shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.00.

Astec Industries Trading Up 0.6%

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 business’s fifty day moving average is $46.34 and its 200-day moving average is $45.39. The stock has a market capitalization of $1.11 billion, a PE ratio of 23.42, a P/E/G ratio of 2.10 and a beta of 1.44.

Astec Industries (NASDAQ:ASTE) last announced its quarterly 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 company had revenue of $350.10 million for the quarter, compared to analyst estimates of $336.00 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Astec Industries during the 2nd quarter valued at about $27,000. iSAM Funds UK Ltd purchased a new stake in shares of Astec Industries during the third quarter valued at approximately $50,000. Farther Finance Advisors LLC boosted its stake in shares of Astec Industries by 8,994.1% in the fourth 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 during the period. Tower Research Capital LLC TRC grew its holdings in Astec Industries by 412.0% during 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. Finally, SG Americas Securities LLC purchased a new stake in Astec Industries during the 3rd quarter worth $136,000. 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.