Astec Industries (NASDAQ:ASTE) Shares Gap Down – Time to Sell?

Shares of Astec Industries, Inc. (NASDAQ:ASTE) gapped down before the market opened on Monday . The stock had previously closed at $49.89, but opened at $47.25. Astec Industries shares last traded at $48.0550, with a volume of 11,314 shares traded.

Analysts Set New Price Targets

A number of research firms have weighed in on ASTE. Zacks Research downgraded Astec Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Freedom Capital upgraded Astec Industries to a “strong-buy” rating in a report on Wednesday, April 1st. Weiss Ratings downgraded Astec Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 7th. Longbow Research upgraded Astec Industries to a “strong-buy” rating in a report on Monday, March 16th. Finally, Wall Street Zen downgraded Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy”.

Astec Industries Trading Up 2.5%

The firm has a 50 day simple moving average of $55.91 and a 200 day simple moving average of $51.42. The company has a current ratio of 2.34, a quick ratio of 1.00 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.11 billion, a PE ratio of 43.21, a P/E/G ratio of 1.18 and a beta of 1.47.

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

Astec Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 13th. Astec Industries’s dividend payout ratio (DPR) is currently 46.43%.

Insider Buying and Selling

In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the transaction, the insider directly owned 8,828 shares of the company’s stock, valued at approximately $539,125.96. This trade represents a 9.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.99% of the company’s stock.

Hedge Funds Weigh In On Astec Industries

Institutional investors have recently bought and sold shares of the stock. iSAM Funds UK Ltd bought a new position in Astec Industries in the 3rd quarter worth $50,000. Farther Finance Advisors LLC raised its holdings in Astec Industries by 8,994.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,546 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,529 shares during the period. Tower Research Capital LLC TRC raised 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 worth $92,000 after purchasing an additional 1,780 shares during the period. SG Americas Securities LLC bought a new position in Astec Industries in the 3rd quarter worth $136,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Astec Industries in the 4th quarter worth $127,000. 93.16% of the stock is owned by institutional investors.

About Astec Industries

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.