Astec Industries (NASDAQ:ASTE) Hits New 52-Week Low - Should You Sell?

Key Points

• Astec Industries shares fell to a new 52-week low, trading as low as $39.99 and last changing hands at $40.4550, below the 50-day and 200-day moving averages.
• Analyst sentiment is mixed: recent ratings included downgrades to “hold” and “strong sell,” though the overall consensus remained “Moderate Buy.”
• The company missed quarterly earnings expectations, reporting $0.94 in EPS versus a $1.04 estimate, but exceeded revenue forecasts and maintained a quarterly dividend of $0.13 per share. Institutional investors owned 93.16% of the stock.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $39.99 and last traded at $40.4550, with a volume of 24538 shares trading hands. The stock had previously closed at $41.42.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Astec Industries in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Astec Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, Zacks Research downgraded shares of Astec Industries from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Astec Industries Stock Down 1.7%

The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $937.72 million, a price-to-earnings ratio of 47.92, a PEG ratio of 1.12 and a beta of 1.34. The business's fifty day moving average price is $48.25 and its 200 day moving average price is $52.85.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). The business had revenue of $408.10 million for the quarter, compared to analyst estimates of $405.50 million. Astec Industries had a return on equity of 10.26% and a net margin of 1.26%.During the same quarter last year, the company posted $0.72 EPS. On average, equities analysts expect that Astec Industries, Inc. will post 3.36 EPS for the current year.

Astec Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 10th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, August 10th. Astec Industries's dividend payout ratio (DPR) is 61.18%.

Institutional Investors Weigh In On Astec Industries

Several hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC increased its stake in Astec Industries by 55.4% in the 2nd quarter. Squarepoint Ops LLC now owns 30,243 shares of the industrial products company's stock valued at $1,851,000 after buying an additional 10,786 shares during the period. Nykredit A S purchased a new stake in shares of Astec Industries in the second quarter valued at about $25,000. Corient Private Wealth LP acquired a new position in shares of Astec Industries during the second quarter worth about $2,334,000. Amundi purchased a new position in Astec Industries during the second quarter worth about $235,000. Finally, California State Teachers Retirement System raised its holdings in Astec Industries by 7,130.9% during the second quarter. California State Teachers Retirement System now owns 1,439,311 shares of the industrial products company's stock worth $88,071,000 after purchasing an additional 1,419,406 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

About Astec Industries

Astec Industries, Inc designs, engineers and manufactures equipment used in the infrastructure, aggregate processing, mining and energy industries. Its products support the production and handling of asphalt, concrete and other construction materials, as well as road building, recycling and related industrial applications.

The company's product portfolio includes asphalt production plants, concrete plants, rock crushers, screens, feeders, material-handling systems, thermal-processing equipment and industrial heaters.

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