Astec Industries (NASDAQ:ASTE) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Astec Industries crossed above its 200-day moving average of $40.80, trading as high as $48.86, with the last price at $47.51.
• Analysts have set a consensus target price of $41.00 and reissued a "hold" rating on the stock, indicating a cautious outlook.
• Astec recently announced a quarterly dividend of $0.13 per share, yielding 1.1%, while insiders have made notable stock transactions.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.80 and traded as high as $48.86. Astec Industries shares last traded at $47.51, with a volume of 114,192 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Astec Industries in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $41.00.

Astec Industries Stock Performance

The business's 50-day moving average price is $45.66 and its 200-day moving average price is $40.80. The company has a current ratio of 2.71, a quick ratio of 1.08 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.09 billion, a PE ratio of 23.87 and a beta of 1.43.

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

Astec Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 11th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, August 11th. Astec Industries's payout ratio is 26.13%.

Insiders Place Their Bets

In related news, insider Barend Snyman sold 2,498 shares of the business's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the transaction, the insider directly owned 15,559 shares in the company, valued at $734,695.98. The trade was a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Astec Industries

A number of large investors have recently modified their holdings of ASTE. FNY Investment Advisers LLC purchased a new stake in shares of Astec Industries during the second quarter worth about $27,000. Wealth Preservation Advisors LLC purchased a new stake in Astec Industries during the 1st quarter worth approximately $36,000. Byrne Asset Management LLC grew its position in 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 worth $40,000 after purchasing an additional 465 shares during the last quarter. Tompkins Financial Corp grew its holdings in shares of Astec Industries by 30.0% during the second quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company's stock valued at $54,000 after buying an additional 300 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Astec Industries by 264.6% during the first quarter. CWM LLC now owns 2,483 shares of the industrial products company's stock valued at $86,000 after buying an additional 1,802 shares during the last quarter. Hedge funds and other 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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