John J. Irvine III Sells 3,221 Shares of Astec Industries Inc. (ASTE) Stock
Astec Industries Inc. (NASDAQ:ASTE) insider John J. Irvine III sold 3,221 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $64.51, for a total value of $207,786.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Astec Industries Inc. (NASDAQ:ASTE) opened at 64.11 on Monday. The firm’s 50-day moving average price is $58.01 and its 200 day moving average price is $56.15. Astec Industries Inc. has a one year low of $33.08 and a one year high of $65.57. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.90 and a beta of 1.29.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $247.80 million for the quarter, compared to the consensus estimate of $244.36 million. Astec Industries had a net margin of 4.48% and a return on equity of 7.36%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Astec Industries Inc. will post $2.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.40 annualized dividend and a yield of 0.62%. Astec Industries’s payout ratio is 19.80%.
A number of hedge funds have recently bought and sold shares of the stock. PineBridge Investments L.P. raised its position in Astec Industries by 4.6% in the second quarter. PineBridge Investments L.P. now owns 2,396 shares of the company’s stock valued at $134,000 after buying an additional 105 shares during the last quarter. Teacher Retirement System of Texas raised its position in Astec Industries by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 2,727 shares of the company’s stock valued at $153,000 after buying an additional 336 shares during the last quarter. BlackRock Inc. raised its position in Astec Industries by 153.9% in the second quarter. BlackRock Inc. now owns 3,263 shares of the company’s stock valued at $183,000 after buying an additional 1,978 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Astec Industries during the third quarter valued at about $204,000. Finally, Mason Street Advisors LLC acquired a new position in Astec Industries during the second quarter valued at about $207,000. 76.67% of the stock is currently owned by institutional investors and hedge funds.
ASTE has been the subject of several recent analyst reports. Zacks Investment Research raised Astec Industries from a “sell” rating to a “buy” rating and set a $70.00 target price for the company in a report on Thursday, July 28th. Maxim Group increased their price objective on Astec Industries from $60.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Stifel Nicolaus increased their price objective on Astec Industries from $63.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Robert W. Baird lowered Astec Industries from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $62.20.
About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in each phase of road building, from quarrying and crushing the aggregate to application of the road surface.
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