Astec Industries (NASDAQ:ASTE) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Astec Industries (NASDAQ:ASTE) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other equities analysts have also recently weighed in on ASTE. Longbow Research upgraded Astec Industries to a “strong-buy” rating in a research note on Monday, March 16th. Freedom Capital upgraded shares of Astec Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings lowered shares of Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Astec Industries Stock Performance

Shares of Astec Industries stock opened at $56.00 on Monday. Astec Industries has a 52 week low of $37.82 and a 52 week high of $65.69. The company has a quick ratio of 1.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average price of $53.93 and a 200-day moving average price of $53.67. The company has a market cap of $1.29 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.34.

Astec Industries (NASDAQ:ASTE) last announced its earnings results on Wednesday, May 6th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.34). Astec Industries had a net margin of 1.75% and a return on equity of 10.09%. The company had revenue of $396.30 million for the quarter, compared to analysts’ expectations of $393.24 million. Equities analysts anticipate that Astec Industries will post 3.63 earnings per share for the current fiscal year.

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, May 13th. Astec Industries’s payout ratio is presently 46.43%.

Hedge Funds Weigh In On Astec Industries

Several institutional investors have recently added to or reduced their stakes in ASTE. iSAM Funds UK Ltd purchased a new stake in Astec Industries during the third quarter worth about $50,000. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 1,529 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of 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 acquiring an additional 1,780 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Astec Industries during the 4th quarter worth approximately $127,000. Finally, LSV Asset Management purchased a new stake in shares of Astec Industries during the 4th quarter worth approximately $182,000. 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.