Astec Industries, Inc. (NASDAQ:ASTE) Short Interest Update

Astec Industries, Inc. (NASDAQ:ASTE) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 495,363 shares, a drop of 19.9% from the February 26th total of 618,652 shares. Based on an average trading volume of 271,210 shares, the short-interest ratio is currently 1.8 days. Currently, 2.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

ASTE has been the subject of a number of research analyst reports. Wall Street Zen downgraded Astec Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research raised Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Finally, Longbow Research raised Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Insider Buying and Selling at Astec Industries

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company’s stock in a transaction dated 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 directly owned 8,828 shares of the company’s stock, valued at approximately $539,125.96. This represents a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASTE. Vanguard Group Inc. boosted its position in shares of Astec Industries by 1.4% in the third quarter. Vanguard Group Inc. now owns 2,513,520 shares of the industrial products company’s stock valued at $120,976,000 after acquiring an additional 34,535 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Astec Industries by 1.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 818,031 shares of the industrial products company’s stock worth $39,372,000 after purchasing an additional 9,174 shares in the last quarter. American Century Companies Inc. boosted its holdings in Astec Industries by 24.5% in the 3rd quarter. American Century Companies Inc. now owns 672,030 shares of the industrial products company’s stock valued at $32,345,000 after purchasing an additional 132,095 shares during the period. Invesco Ltd. boosted its holdings in Astec Industries by 14.9% in the 4th quarter. Invesco Ltd. now owns 586,160 shares of the industrial products company’s stock valued at $25,392,000 after purchasing an additional 75,989 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Astec Industries by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 578,228 shares of the industrial products company’s stock worth $24,109,000 after purchasing an additional 11,365 shares in the last quarter. Institutional investors own 93.16% of the company’s stock.

Astec Industries Stock Performance

ASTE traded up $2.03 on Wednesday, reaching $55.87. The company had a trading volume of 37,803 shares, compared to its average volume of 219,989. The stock has a market cap of $1.28 billion, a P/E ratio of 33.26, a P/E/G ratio of 1.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 2.49. Astec Industries has a fifty-two week low of $29.65 and a fifty-two week high of $64.37. The company’s fifty day moving average is $55.18 and its 200 day moving average is $49.33.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $374.21 million.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 9th were paid a $0.13 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.52 annualized dividend and a yield of 0.9%. Astec Industries’s payout ratio is 30.95%.

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.