Astec Industries (NASDAQ:ASTE) Price Target Raised to $40.00

Astec Industries (NASDAQ:ASTE - Free Report) had its target price boosted by Robert W. Baird from $36.00 to $40.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the industrial products company's stock.

Astec Industries Trading Down 2.4 %

Shares of NASDAQ ASTE traded down $0.93 during midday trading on Thursday, hitting $37.13. The stock had a trading volume of 194,152 shares, compared to its average volume of 131,098. The company has a fifty day moving average price of $31.75 and a 200 day moving average price of $32.60. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 2.50.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released 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 negative net margin of 0.18% and a positive return on equity of 6.56%. The company had revenue of $291.40 million during the quarter, compared to the consensus estimate of $312.90 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Astec Industries's revenue for the quarter was down 3.9% on a year-over-year basis.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Wednesday, November 13th. Astec Industries's dividend payout ratio is presently -519.95%.

Institutional Investors Weigh In On Astec Industries

A number of large investors have recently modified their holdings of ASTE. GAMMA Investing LLC increased its stake 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 period. Lazard Asset Management LLC acquired a new position in shares of Astec Industries in the first quarter worth about $66,000. Central Pacific Bank Trust Division purchased a new position in Astec Industries in the first quarter valued at about $85,000. Northwest Investment Counselors LLC acquired a new stake in Astec Industries during the 3rd quarter valued at approximately $72,000. Finally, SG Americas Securities LLC purchased a new stake in Astec Industries during the 1st quarter worth approximately $116,000. 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.