Astec Industries (NASDAQ:ASTE) Receives Hold (C) Rating from Weiss Ratings

Key Points

• Astec Industries (NASDAQ:ASTE) has received a reaffirmed "hold (c)" rating from Weiss Ratings, suggesting that the company's stock is not currently expected to outperform the market.
• For the latest quarter, Astec Industries reported earnings of $0.88 per share, exceeding expectations, although revenue fell short at $330.30 million against the consensus estimate of $361.00 million.
• Insider Barend Snyman sold 2,498 shares of Astec Industries at approximately $47.22 per share, reducing his position by nearly 14%.

Astec Industries (NASDAQ:ASTE - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Astec Industries Price Performance

ASTE traded up $0.65 on Wednesday, hitting $48.16. 186,634 shares of the company's stock traded hands, compared to its average volume of 173,070. The company's 50 day simple moving average is $45.66 and its 200-day simple moving average is $40.80. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 24.20 and a beta of 1.43. Astec Industries has a one year low of $29.65 and a one year high of $50.83. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.28. The company had revenue of $330.30 million for the quarter, compared to the consensus estimate of $361.00 million. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.

Insider Transactions at Astec Industries

In other Astec Industries news, insider Barend Snyman sold 2,498 shares of Astec Industries stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total value of $117,955.56. Following the sale, the insider owned 15,559 shares of the company's stock, valued at $734,695.98. The trade was a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Astec Industries

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in shares of Astec Industries during the 2nd quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new position in shares of Astec Industries during the 1st quarter valued at approximately $36,000. Byrne Asset Management LLC increased its position in shares of Astec Industries by 66.4% during the 1st quarter. Byrne Asset Management LLC now owns 1,165 shares of the industrial products company's stock valued at $40,000 after purchasing an additional 465 shares during the last quarter. Tompkins Financial Corp increased its position in shares of Astec Industries by 30.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 300 shares during the last quarter. Finally, CWM LLC increased its position in shares of Astec Industries by 264.6% during the 1st quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 1,802 shares during the last quarter. Institutional investors own 93.16% of the company's stock.

Astec Industries Company Profile

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.

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