StockNews.com Downgrades Astec Industries (NASDAQ:ASTE) to Hold

StockNews.com downgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a report released on Wednesday morning.

Separately, Robert W. Baird raised their price target on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th.

Astec Industries Trading Down 0.5 %

NASDAQ ASTE opened at $37.10 on Wednesday. The firm’s fifty day moving average price is $35.09 and its 200 day moving average price is $32.90. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The company has a market capitalization of $845.88 million, a price-to-earnings ratio of -463.69 and a beta of 1.30.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. During the same quarter last year, the company posted ($0.01) earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Wednesday, November 13th. Astec Industries’s dividend payout ratio is currently -649.92%.

Institutional Investors Weigh In On Astec Industries

Several hedge funds have recently made changes to their positions in ASTE. The Manufacturers Life Insurance Company lifted its holdings in shares of Astec Industries by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 8,912 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 315 shares during the period. GAMMA Investing LLC raised its position in Astec Industries by 69.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after buying an additional 458 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Astec Industries in the 3rd quarter worth $45,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Astec Industries in the third quarter valued at about $49,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astec Industries during the third quarter worth about $64,000. Institutional investors and hedge funds own 93.16% of the company’s stock.

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.