Astec Industries (NASDAQ:ASTE) Reaches New 1-Year High - Time to Buy?

Key Points

• Astec Industries' stock hit a new 52-week high, trading around $64.90 (up roughly 6.5% with ~37,900 shares changing hands) from the prior close of $61.33.
• The company beat quarterly estimates with $1.06 EPS vs. $0.74 expected and $400.6M revenue, but shares trade at a rich PE (~38.9) and analysts are mixed—two Strong Buy and two Hold, averaging a "Buy" rating.
• Management declared a quarterly dividend of $0.13 (annualized yield ~0.8%), the stock is heavily institutionally owned (~93%), and an insider recently sold a small stake (insiders own ~0.99%).

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report)'s stock price hit a new 52-week high on Thursday . The stock traded as high as $64.86 and last traded at $64.8990, with a volume of 37864 shares changing hands. The stock had previously closed at $61.33.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ASTE shares. Longbow Research raised shares of Astec Industries to a "strong-buy" rating in a report on Monday, March 16th. Wall Street Zen raised shares of Astec Industries from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 11th. Zacks Research downgraded Astec Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Freedom Capital upgraded Astec Industries to a "strong-buy" rating in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Astec Industries currently has an average rating of "Buy".

Astec Industries Stock Up 6.5%

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.49 and a quick ratio of 1.07. The company has a market capitalization of $1.50 billion, a PE ratio of 38.92, a P/E/G ratio of 2.22 and a beta of 1.39. The business has a 50-day moving average of $57.31 and a 200 day moving average of $50.93.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its earnings results on Wednesday, February 25th. The industrial products company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.32. The company had revenue of $400.60 million for the quarter, compared to the consensus estimate of $374.21 million. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%. Equities research analysts predict that Astec Industries, Inc. will post 3.78 earnings per share for the current year.

Astec Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.52 dividend on an annualized basis and a yield of 0.8%. Astec Industries's dividend payout ratio is presently 30.95%.

Insider Transactions at Astec Industries

In related news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the company's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $61.07, for a total transaction of $59,543.25. Following the sale, the insider owned 8,828 shares of the company's stock, valued at $539,125.96. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Astec Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Astec Industries by 15.6% in the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company's stock valued at $2,262,000 after acquiring an additional 8,847 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Astec Industries in the first quarter valued at $1,526,000. Millennium Management LLC raised its stake in shares of Astec Industries by 188.2% in the first quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company's stock valued at $5,111,000 after acquiring an additional 96,883 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Astec Industries by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company's stock valued at $2,259,000 after acquiring an additional 1,358 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Astec Industries by 2.9% in the first quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company's stock valued at $1,604,000 after acquiring an additional 1,305 shares during the period. 93.16% of the stock is currently owned by hedge funds and other institutional investors.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec's product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.

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