Posted by admin on Aug 5th, 2022

Astec Industries (NASDAQ:ASTE – Get Rating) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.33), Briefing.com reports. Astec Industries had a net margin of 0.03% and a return on equity of 3.72%. The firm had revenue of $318.20 million for the quarter, compared to analyst estimates of $308.70 million. During the same period last year, the company earned $0.49 EPS. The company’s revenue was up 14.6% compared to the same quarter last year.

NASDAQ:ASTE traded up $0.89 during mid-day trading on Thursday, hitting $42.42. The company had a trading volume of 82,654 shares, compared to its average volume of 129,638. The firm has a market cap of $968.96 million, a P/E ratio of 2,121.00 and a beta of 1.35. The business’s fifty day moving average is $44.10 and its two-hundred day moving average is $46.49. Astec Industries has a fifty-two week low of $36.31 and a fifty-two week high of $75.00.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Friday, August 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date is Thursday, August 11th. Astec Industries’s payout ratio is 2,400.00%.

ASTE has been the topic of several analyst reports. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 13th. Robert W. Baird lowered Astec Industries from an “outperform” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research note on Friday, April 8th.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its stake in Astec Industries by 9.6% in the first quarter. Citigroup Inc. now owns 19,918 shares of the industrial products company’s stock valued at $856,000 after purchasing an additional 1,743 shares in the last quarter. MetLife Investment Management LLC grew its stake in Astec Industries by 54.0% in the first quarter. MetLife Investment Management LLC now owns 12,874 shares of the industrial products company’s stock valued at $554,000 after purchasing an additional 4,513 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Astec Industries by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,626 shares of the industrial products company’s stock valued at $844,000 after purchasing an additional 2,420 shares in the last quarter. BlackRock Inc. grew its stake in Astec Industries by 4.6% in the first quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock valued at $173,816,000 after purchasing an additional 178,771 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Astec Industries by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,341,277 shares of the industrial products company’s stock valued at $57,675,000 after buying an additional 28,651 shares during the last quarter. 94.52% of the stock is currently owned by institutional investors.

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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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