Astec Industries (ASTE) Scheduled to Post Earnings on Wednesday

Posted by Defense World Staff on Apr 26th, 2023

Astec Industries (NASDAQ:ASTE – Get Rating) is set to release its earnings data before the market opens on Wednesday, May 3rd. Analysts expect Astec Industries to post earnings of $0.59 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Astec Industries (NASDAQ:ASTE – Get Rating) last announced its quarterly earnings results on Wednesday, March 1st. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $349.90 million for the quarter, compared to analysts’ expectations of $313.55 million. Astec Industries had a negative net margin of 0.01% and a positive return on equity of 4.38%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. On average, analysts expect Astec Industries to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Astec Industries Stock Down 2.0 %

Shares of ASTE stock opened at $40.49 on Wednesday. The stock has a 50 day moving average of $42.05 and a 200 day moving average of $41.49. The company has a current ratio of 2.54, a quick ratio of 1.11 and a debt-to-equity ratio of 0.12. The stock has a market cap of $917.10 million, a P/E ratio of 33.57 and a beta of 1.50. Astec Industries has a twelve month low of $31.04 and a twelve month high of $49.56.

Astec Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Friday, March 10th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, March 9th.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ASTE. Robert W. Baird lifted their price target on Astec Industries from $36.00 to $42.00 in a research report on Wednesday, March 1st. William Blair restated a “market perform” rating on shares of Astec Industries in a research report on Wednesday, March 1st. Finally, StockNews.com assumed coverage on Astec Industries in a research report on Thursday, March 16th. They issued a “hold” rating for the company.

Institutional Trading of Astec Industries

A number of institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in shares of Astec Industries by 1.6% in the fourth quarter. Legal & General Group Plc now owns 66,441 shares of the industrial products company’s stock worth $2,701,000 after acquiring an additional 1,028 shares during the last quarter. Millennium Management LLC boosted its stake in Astec Industries by 491.6% during the fourth quarter. Millennium Management LLC now owns 95,632 shares of the industrial products company’s stock worth $3,888,000 after buying an additional 79,467 shares during the last quarter. Morgan Stanley boosted its stake in Astec Industries by 3.2% during the fourth quarter. Morgan Stanley now owns 158,893 shares of the industrial products company’s stock worth $6,461,000 after buying an additional 4,922 shares during the last quarter. Norges Bank acquired a new position in Astec Industries during the fourth quarter worth $9,297,000. Finally, AQR Capital Management LLC acquired a new position in Astec Industries during the fourth quarter worth $283,000. 93.01% of the stock is owned by institutional investors and hedge funds.

About Astec Industries

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Astec Industries, Inc engages in the design, engineer, manufacture, and market of equipment and components used in road building and construction activities. It operates through the following segments: Infrastructure Solutions, Material Solutions, and Corporate and Other. The Infrastructure Solutions segment designs, engineers, manufactures, and markets a complete line of asphalt plants, concrete plants, and ancillary equipment, as well as supplying asphalt road construction equipment, industrial thermal systems, and heavy equipment.

Earnings History for Astec Industries (NASDAQ:ASTE)

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