Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 382,100 shares, a decrease of 14.5% from the February 13th total of 446,800 shares. Based on an average daily volume of 172,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.7% of the shares of the company are sold short.
Analysts Set New Price Targets
Several research firms recently commented on ASTE. StockNews.com upgraded shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Robert W. Baird upped their target price on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th.
Check Out Our Latest Stock Analysis on ASTE
Astec Industries Price Performance
Shares of ASTE stock traded down $1.11 during mid-day trading on Friday, reaching $35.62. The company's stock had a trading volume of 345,884 shares, compared to its average volume of 149,603. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a market cap of $812.28 million, a P/E ratio of -445.19 and a beta of 1.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The firm's 50-day moving average is $34.37 and its two-hundred day moving average is $34.01.
Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its earnings results on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.46. The business had revenue of $359.00 million during the quarter, compared to analysts' expectations of $374.10 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%.
Astec Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, March 10th. Astec Industries's dividend payout ratio (DPR) is currently 273.68%.
Institutional Investors Weigh In On Astec Industries
Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of Astec Industries by 802.5% during the 4th quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company's stock worth $25,000 after purchasing an additional 650 shares in the last quarter. Tompkins Financial Corp bought a new stake in Astec Industries during the 4th quarter worth about $34,000. R Squared Ltd bought a new stake in Astec Industries during the 4th quarter worth about $42,000. Point72 Asset Management L.P. bought a new stake in Astec Industries during the 3rd quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Astec Industries during the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 93.16% of the company's stock.
About Astec Industries
(
Get Free Report)
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.
See Also
Before you consider Astec Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astec Industries wasn't on the list.
While Astec Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
