Astec Industries (NASDAQ:ASTE) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Astec Industries (NASDAQ:ASTE) released its earnings results on Wednesday. The industrial products company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02, Zacks reports. The business had revenue of $350.10 million during the quarter, compared to the consensus estimate of $336.00 million. Astec Industries had a net margin of 3.50% and a return on equity of 11.52%.

Astec Industries Stock Performance

Shares of ASTE stock opened at $45.51 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08. The firm has a 50-day moving average of $47.12 and a 200-day moving average of $42.79. Astec Industries has a one year low of $29.65 and a one year high of $50.83. The company has a market cap of $1.04 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.32 and a beta of 1.43.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, November 10th. This represents a $0.52 annualized dividend and a yield of 1.1%. Astec Industries’s dividend payout ratio (DPR) is 26.13%.

Insider Buying and Selling

In other news, insider Barend Snyman sold 2,498 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total value of $117,955.56. Following the transaction, the insider owned 15,559 shares in the company, valued at $734,695.98. The trade was a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Astec Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Astec Industries by 412.0% in 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 purchasing an additional 1,780 shares during the period. State of Wyoming purchased a new stake in shares of Astec Industries in the 2nd quarter valued at $206,000. Cerity Partners LLC bought a new position in shares of Astec Industries during the second quarter valued at about $220,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Astec Industries during the second quarter valued at approximately $231,000. Finally, Quantinno Capital Management LP boosted its position in Astec Industries by 22.2% during the 2nd quarter. Quantinno Capital Management LP now owns 7,544 shares of the industrial products company’s stock valued at $315,000 after buying an additional 1,371 shares during the period. Institutional investors own 93.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Astec Industries in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.