Q2 2024 EPS Estimates for Astec Industries, Inc. (NASDAQ:ASTE) Reduced by Analyst

Astec Industries, Inc. (NASDAQ:ASTE) – Stock analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for Astec Industries in a research note issued to investors on Thursday, March 28th. Zacks Research analyst S. Deb now anticipates that the industrial products company will post earnings per share of $0.77 for the quarter, down from their prior estimate of $0.79. The consensus estimate for Astec Industries’ current full-year earnings is $2.89 per share. Zacks Research also issued estimates for Astec Industries’ Q3 2024 earnings at $0.31 EPS, Q4 2024 earnings at $0.86 EPS, FY2024 earnings at $2.86 EPS, Q1 2025 earnings at $0.88 EPS, Q2 2025 earnings at $0.83 EPS, FY2025 earnings at $3.10 EPS and FY2026 earnings at $3.46 EPS.

Several other analysts have also issued reports on ASTE. Stifel Nicolaus boosted their target price on Astec Industries from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. StockNews.com upgraded Astec Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 11th.

Astec Industries Stock Performance

Shares of ASTE opened at $43.71 on Friday. The firm has a market cap of $993.97 million, a PE ratio of 29.73 and a beta of 1.38. The stock’s fifty day moving average price is $37.95 and its two-hundred day moving average price is $38.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 0.88. Astec Industries has a 1 year low of $28.97 and a 1 year high of $56.33.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.28. The firm had revenue of $337.20 million for the quarter, compared to analyst estimates of $332.33 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 11th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, March 8th. Astec Industries’s dividend payout ratio (DPR) is presently 35.37%.

Hedge Funds Weigh In On Astec Industries

Several hedge funds have recently made changes to their positions in ASTE. BlackRock Inc. grew its position in Astec Industries by 0.8% during the second quarter. BlackRock Inc. now owns 4,242,561 shares of the industrial products company’s stock worth $192,782,000 after buying an additional 33,618 shares in the last quarter. Vanguard Group Inc. grew its position in Astec Industries by 1.8% during the third quarter. Vanguard Group Inc. now owns 2,496,814 shares of the industrial products company’s stock worth $77,876,000 after buying an additional 44,174 shares in the last quarter. Victory Capital Management Inc. grew its position in Astec Industries by 24.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,777,218 shares of the industrial products company’s stock worth $72,262,000 after buying an additional 354,483 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Astec Industries by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,531,823 shares of the industrial products company’s stock worth $56,984,000 after buying an additional 29,657 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Astec Industries by 8.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,131,271 shares of the industrial products company’s stock worth $42,083,000 after buying an additional 86,969 shares in the last quarter. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

About Astec Industries

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.