Astec Industries (ASTE) Cut to Hold at BidaskClub

BidaskClub cut shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a research note published on Saturday morning.

A number of other research firms have also recently weighed in on ASTE. TheStreet cut Astec Industries from a b rating to a c+ rating in a research report on Tuesday, October 24th. Zacks Investment Research raised Astec Industries from a sell rating to a hold rating in a research report on Tuesday, September 26th. Finally, Robert W. Baird raised Astec Industries from a neutral rating to an outperform rating and lifted their price objective for the company from $56.00 to $65.00 in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $75.00.

Astec Industries (NASDAQ:ASTE) opened at $56.60 on Friday. Astec Industries has a 12-month low of $45.70 and a 12-month high of $73.37. The firm has a market capitalization of $1,280.37, a PE ratio of 33.04, a PEG ratio of 3.45 and a beta of 1.05.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a net margin of 3.27% and a return on equity of 5.89%. The company had revenue of $252.10 million for the quarter, compared to analysts’ expectations of $261.06 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. analysts predict that Astec Industries will post 1.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were issued a $0.10 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.71%. Astec Industries’s dividend payout ratio is presently 23.81%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ASTE. Teachers Advisors LLC lifted its holdings in Astec Industries by 10.5% in the 1st quarter. Teachers Advisors LLC now owns 35,179 shares of the industrial products company’s stock worth $2,163,000 after purchasing an additional 3,345 shares in the last quarter. Bank of America Corp DE lifted its holdings in Astec Industries by 52.3% in the 1st quarter. Bank of America Corp DE now owns 34,379 shares of the industrial products company’s stock worth $2,114,000 after purchasing an additional 11,802 shares in the last quarter. State Street Corp lifted its holdings in Astec Industries by 6.6% in the 1st quarter. State Street Corp now owns 454,657 shares of the industrial products company’s stock worth $27,957,000 after purchasing an additional 28,209 shares in the last quarter. Credit Suisse AG lifted its holdings in Astec Industries by 22.9% in the 1st quarter. Credit Suisse AG now owns 31,972 shares of the industrial products company’s stock worth $1,965,000 after purchasing an additional 5,965 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Astec Industries by 78.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,760 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,650 shares in the last quarter. 79.57% of the stock is currently owned by institutional investors.

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About Astec Industries

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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