Astec Industries (NASDAQ:ASTE) Reaches New 52-Week Low - Here's Why

Key Points

• Astec Industries shares fell to a new 52-week low of $39.99 before closing near $41.59, with the stock trading below both its 50-day and 200-day moving averages.
• The company’s latest quarterly earnings missed expectations, reporting $0.94 per share versus the $1.04 consensus estimate, although revenue of $408.1 million exceeded forecasts.
• Analyst sentiment has weakened, including a downgrade to “strong sell” from Zacks Research, but the overall consensus remains “Moderate Buy.” Astec also maintains a quarterly dividend of $0.13, equal to a 1.3% yield.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $39.99 and last traded at $41.5940, with a volume of 528493 shares trading hands. The stock had previously closed at $41.40.

Analyst Ratings Changes

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

Astec Industries Stock Performance

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 stock has a market capitalization of $939.42 million, a price-to-earnings ratio of 48.45, a PEG ratio of 1.12 and a beta of 1.34. The stock's 50 day moving average is $46.71 and its 200 day moving average is $52.13.

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

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 10th were given 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 is currently 61.18%.

Institutional Trading of Astec Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Astec Industries during the 2nd quarter worth about $212,732,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Astec Industries during the second quarter valued at approximately $6,075,000. UBS Group AG boosted its position in Astec Industries by 47.0% during the fourth quarter. UBS Group AG now owns 83,185 shares of the industrial products company's stock worth $3,604,000 after acquiring an additional 26,588 shares during the last quarter. Easterly Investment Partners LLC grew its stake in Astec Industries by 115.0% in the 4th quarter. Easterly Investment Partners LLC now owns 192,030 shares of the industrial products company's stock worth $8,319,000 after acquiring an additional 102,709 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Astec Industries in the 1st quarter worth approximately $2,976,000. Hedge funds and other institutional investors own 93.16% of the company's stock.

Astec Industries Company Profile

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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