BidaskClub cut shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other analysts have also recently issued reports on ASTE. Zacks Investment Research raised shares of Astec Industries from a sell rating to a hold rating in a research note on Tuesday, September 26th. Robert W. Baird raised shares of Astec Industries from a neutral rating to an outperform rating and upped their price objective for the company from $56.00 to $65.00 in a research note on Tuesday, October 3rd. Finally, TheStreet cut shares of Astec Industries from a b rating to a c+ rating in a research note on Tuesday, October 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $75.00.

Shares of Astec Industries (NASDAQ ASTE) opened at $53.14 on Tuesday. The company has a market cap of $1,257.99, a PE ratio of 32.46, a PEG ratio of 3.39 and a beta of 1.05. Astec Industries has a one year low of $45.70 and a one year high of $73.37.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Tuesday, October 24th. The industrial products company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The company had revenue of $252.10 million for the quarter, compared to analysts’ expectations of $261.06 million. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts anticipate that Astec Industries will post 1.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, November 10th. This represents a $0.40 annualized dividend and a yield of 0.75%. Astec Industries’s dividend payout ratio is presently 23.81%.

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTE. 1060 Capital LLC purchased a new stake in Astec Industries during the 3rd quarter valued at about $37,991,000. Gamco Investors INC. ET AL grew its stake in Astec Industries by 21.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,274,239 shares of the industrial products company’s stock valued at $71,370,000 after acquiring an additional 221,167 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in Astec Industries during the 3rd quarter valued at about $11,430,000. State of New Jersey Common Pension Fund D grew its stake in Astec Industries by 10.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,490,000 shares of the industrial products company’s stock valued at $83,455,000 after acquiring an additional 140,000 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Astec Industries by 51.1% in the 3rd quarter. Royce & Associates LP now owns 372,063 shares of the industrial products company’s stock valued at $20,839,000 after buying an additional 125,900 shares during the period. 79.95% of the stock is owned by institutional investors.

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Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.

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