Astec Industries (NASDAQ:ASTE) Sets New 1-Year Low – What’s Next?

Shares of Astec Industries, Inc. (NASDAQ:ASTE) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $38.01 and last traded at $37.8590, with a volume of 7,810 shares traded. The stock had previously closed at $39.56.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ASTE. Wall Street Zen cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Zacks Research upgraded Astec Industries from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Astec Industries currently has an average rating of “Buy”.

Astec Industries Trading Down 2.1%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 2.52. The business has a 50-day simple moving average of $41.38 and a two-hundred day simple moving average of $49.63. The stock has a market cap of $876.72 million, a price-to-earnings ratio of 45.02, a P/E/G ratio of 1.07 and a beta of 1.33.

Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The business had revenue of $408.10 million during the quarter, compared to analyst estimates of $405.50 million. Astec Industries had a net margin of 1.26% and a return on equity of 10.26%. During the same quarter last year, the business earned $0.72 earnings per share. As a group, research analysts forecast that Astec Industries, Inc. will post 3.35 EPS for the current year.

Astec Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were paid a dividend of $0.13 per share. The ex-dividend date was Monday, August 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. Astec Industries’s payout ratio is currently 61.18%.

Hedge Funds Weigh In On Astec Industries

Several institutional investors and hedge funds have recently modified their holdings of ASTE. Inspire Investing LLC increased its stake in Astec Industries by 40.7% during the 3rd quarter. Inspire Investing LLC now owns 15,604 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 4,517 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Astec Industries by 105.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 301,598 shares of the industrial products company’s stock valued at $12,136,000 after acquiring an additional 154,802 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Astec Industries by 1,128.8% during the 3rd quarter. Fortitude Family Office LLC now owns 639 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 587 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Astec Industries by 17.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,308 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 338 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Astec Industries by 130.3% in the second quarter. QRG Capital Management Inc. now owns 8,988 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 5,086 shares during the period. 93.16% of the stock is currently owned by institutional investors and hedge funds.

About Astec Industries

Astec Industries, Inc (NASDAQ: ASTE) designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.