Astec Industries (NASDAQ:ASTE) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Astec Industries (NASDAQ:ASTE) from a buy rating to a hold rating in a report released on Monday.

Separately, Robert W. Baird upped their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th.

Astec Industries Price Performance

Shares of Astec Industries stock opened at $38.34 on Monday. The stock’s fifty day moving average is $33.34 and its 200 day moving average is $32.49. Astec Industries has a one year low of $28.46 and a one year high of $44.74. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $291.40 million during the quarter, compared to analysts’ expectations of $312.90 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) earnings per share.

Astec Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is currently -649.92%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Astec Industries by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,114 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 458 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Astec Industries in the 3rd quarter worth about $45,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Astec Industries during the third quarter worth approximately $49,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Astec Industries during the third quarter valued at approximately $64,000. Finally, Lazard Asset Management LLC bought a new stake in Astec Industries during the 1st quarter valued at $66,000. 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.