Astec Industries (NASDAQ:ASTE) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Astec Industries, Inc. (NASDAQ:ASTE)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.80 and traded as high as $48.86. Astec Industries shares last traded at $47.51, with a volume of 114,192 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Astec Industries has a consensus rating of “Hold” and an average price target of $41.00.

Astec Industries Stock Performance

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 company has a market capitalization of $1.09 billion, a PE ratio of 23.87 and a beta of 1.43. The firm’s fifty day simple moving average is $45.66 and its 200 day simple moving average is $40.80.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.28. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.The firm had revenue of $330.30 million for the quarter, compared to the consensus estimate of $361.00 million.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Astec Industries’s dividend payout ratio is 26.13%.

Insider Activity

In other news, insider Barend Snyman sold 2,498 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the transaction, the insider owned 15,559 shares in the company, valued at $734,695.98. This trade represents a 13.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in Astec Industries in the 2nd quarter valued at about $27,000. Wealth Preservation Advisors LLC purchased a new position in Astec Industries in the 1st quarter worth approximately $36,000. Byrne Asset Management LLC lifted its position in Astec Industries by 66.4% during the first quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company’s stock worth $40,000 after buying an additional 465 shares in the last quarter. Tompkins Financial Corp raised its holdings in shares of Astec Industries by 30.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 300 shares during the period. Finally, CWM LLC raised its stake in Astec Industries by 264.6% during the first quarter. CWM LLC now owns 2,483 shares of the industrial products company’s stock worth $86,000 after purchasing an additional 1,802 shares during the period. 93.16% of the stock is owned by hedge funds and other institutional investors.

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.