Astec Industries (NASDAQ:ASTE) Hits New 52-Week Low – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $39.99 and last traded at $40.4550, with a volume of 24538 shares changing hands. The stock had previously closed at $41.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ASTE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Zacks Research cut shares of Astec Industries from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Astec Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Astec Industries Trading Down 0.7%

The company has a market cap of $940.83 million, a PE ratio of 48.08, a P/E/G ratio of 1.11 and a beta of 1.34. The stock’s 50 day moving average is $47.59 and its 200-day moving average is $52.59. The company has a quick ratio of 1.10, a current ratio of 2.52 and a debt-to-equity ratio of 0.53.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $408.10 million for the quarter, compared to the consensus estimate of $405.50 million. Astec Industries had a net margin of 1.26% and a return on equity of 10.26%. During the same quarter last year, the business earned $0.72 EPS. As a group, sell-side analysts anticipate that Astec Industries, Inc. will post 3.36 EPS for the current year.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 10th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 10th. Astec Industries’s payout ratio is presently 61.18%.

Institutional Investors Weigh In On Astec Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new position in shares of Astec Industries during the 2nd quarter valued at approximately $25,000. Nykredit A S bought a new stake in Astec Industries in the second quarter worth $25,000. Public Employees Retirement System of Ohio bought a new stake in Astec Industries in the second quarter worth $44,000. LSV Asset Management purchased a new position in Astec Industries during the fourth quarter worth $182,000. Finally, QRG Capital Management Inc. purchased a new position in Astec Industries during the first quarter worth $210,000. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers and manufactures equipment used in the infrastructure, aggregate processing, mining and energy industries. Its products support the production and handling of asphalt, concrete and other construction materials, as well as road building, recycling and related industrial applications.

The company’s product portfolio includes asphalt production plants, concrete plants, rock crushers, screens, feeders, material-handling systems, thermal-processing equipment and industrial heaters.