Astec Industries, Inc. (NASDAQ:ASTE) Expected to Post Quarterly Sales of $308.68 Million

Wall Street brokerages expect that Astec Industries, Inc. (NASDAQ:ASTE) will announce $308.68 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Astec Industries’ earnings, with the highest sales estimate coming in at $313.33 million and the lowest estimate coming in at $305.00 million. Astec Industries posted sales of $317.01 million in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The firm is scheduled to announce its next earnings report on Friday, March 6th.

On average, analysts expect that Astec Industries will report full year sales of $1.18 billion for the current financial year, with estimates ranging from $1.17 billion to $1.20 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.17 billion, with estimates ranging from $1.14 billion to $1.21 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Astec Industries.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.14). Astec Industries had a negative net margin of 0.53% and a positive return on equity of 6.62%. The business had revenue of $255.80 million for the quarter, compared to the consensus estimate of $260.24 million. During the same quarter last year, the business posted $0.30 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis.

Several research analysts have commented on ASTE shares. Sidoti started coverage on shares of Astec Industries in a report on Tuesday, October 8th. They issued a “neutral” rating for the company. William Blair reiterated a “market perform” rating on shares of Astec Industries in a report on Tuesday, October 29th. ValuEngine cut shares of Astec Industries from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Zacks Investment Research cut shares of Astec Industries from a “hold” rating to a “strong sell” rating and set a $37.00 target price for the company. in a report on Thursday, October 31st. Finally, BidaskClub cut shares of Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $39.00.

Shares of ASTE opened at $38.49 on Wednesday. Astec Industries has a one year low of $26.20 and a one year high of $43.26. The company has a 50-day moving average of $34.48 and a two-hundred day moving average of $31.48. The stock has a market cap of $851.58 million, a price-to-earnings ratio of 13.18 and a beta of 1.47.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 11th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Thursday, November 7th. Astec Industries’s payout ratio is 15.07%.

In other news, VP Stephen C. Anderson bought 2,200 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was bought at an average cost of $27.75 per share, for a total transaction of $61,050.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its holdings in shares of Astec Industries by 144.7% in the third quarter. Tower Research Capital LLC TRC now owns 1,226 shares of the industrial products company’s stock worth $38,000 after buying an additional 725 shares during the period. First Trust Advisors LP lifted its position in shares of Astec Industries by 40.0% in the third quarter. First Trust Advisors LP now owns 56,858 shares of the industrial products company’s stock worth $1,768,000 after purchasing an additional 16,247 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Astec Industries by 28.3% in the third quarter. Russell Investments Group Ltd. now owns 244,878 shares of the industrial products company’s stock worth $7,616,000 after purchasing an additional 53,998 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Astec Industries by 9.2% in the third quarter. California Public Employees Retirement System now owns 161,883 shares of the industrial products company’s stock worth $5,035,000 after purchasing an additional 13,652 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in shares of Astec Industries by 8.5% in the third quarter. State of Tennessee Treasury Department now owns 9,994 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 90.93% of the company’s stock.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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