Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) shares gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $31.17, but opened at $34.82. Astec Industries shares last traded at $35.71, with a volume of 120,589 shares.
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 company had revenue of $359.00 million for the quarter, compared to analysts' expectations of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.
Astec Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.13 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.52 annualized dividend and a yield of 1.46%. Astec Industries's dividend payout ratio is -650.00%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on ASTE. Robert W. Baird increased their price objective on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday. StockNews.com raised shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday.
Check Out Our Latest Analysis on ASTE
Hedge Funds Weigh In On Astec Industries
Large investors have recently modified their holdings of the stock. Easterly Investment Partners LLC grew its stake in shares of Astec Industries by 89.0% in the third quarter. Easterly Investment Partners LLC now owns 40,631 shares of the industrial products company's stock valued at $1,298,000 after acquiring an additional 19,134 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Astec Industries in the third quarter valued at about $233,000. Advisors Asset Management Inc. grew its stake in shares of Astec Industries by 7.9% in the third quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company's stock valued at $2,478,000 after acquiring an additional 5,668 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Astec Industries in the third quarter valued at about $319,000. Finally, John G Ullman & Associates Inc. grew its stake in shares of Astec Industries by 64.3% in the third quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company's stock valued at $4,290,000 after acquiring an additional 52,571 shares in the last quarter. 93.16% of the stock is owned by institutional investors.
Astec Industries Price Performance
The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $33.51 and its 200 day moving average is $33.70. The firm has a market capitalization of $811.30 million, a price-to-earnings ratio of -444.69 and a beta of 1.31.
Astec Industries Company Profile
(
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.
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