Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $35.27, but opened at $40.29. Astec Industries shares last traded at $38.68, with a volume of 22,409 shares traded.
The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.42. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm had revenue of $329.40 million during the quarter, compared to the consensus estimate of $320.40 million. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share.
Astec Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, May 13th. Astec Industries's payout ratio is currently 78.79%.
Wall Street Analysts Forecast Growth
ASTE has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. StockNews.com raised shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th.
View Our Latest Report on ASTE
Institutional Investors Weigh In On Astec Industries
Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC increased its stake in Astec Industries by 802.5% in the 4th quarter. Sterling Capital Management LLC now owns 731 shares of the industrial products company's stock worth $25,000 after acquiring an additional 650 shares during the last quarter. Tompkins Financial Corp bought a new position in shares of Astec Industries in the fourth quarter worth approximately $34,000. Byrne Asset Management LLC raised its stake in Astec Industries by 66.4% in the first 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 in the last quarter. R Squared Ltd bought a new stake in Astec Industries during the fourth quarter valued at approximately $42,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Astec Industries in the 3rd quarter worth approximately $49,000. Hedge funds and other institutional investors own 93.16% of the company's stock.
Astec Industries Stock Performance
The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.47. The stock has a market cap of $869.52 million, a PE ratio of -476.57 and a beta of 1.39. The company's 50-day moving average price is $34.93 and its two-hundred day moving average price is $34.68.
About Astec Industries
(
Get Free Report)
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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