Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) – Equities researchers at Zacks Research lifted their Q2 2023 earnings per share (EPS) estimates for shares of Astec Industries in a report issued on Tuesday, June 20th. Zacks Research analyst M. Das now expects that the industrial products company will earn $0.57 per share for the quarter, up from their prior forecast of $0.56. The consensus estimate for Astec Industries’ current full-year earnings is $2.70 per share. Zacks Research also issued estimates for Astec Industries’ Q4 2023 earnings at $0.70 EPS, FY2023 earnings at $2.61 EPS, Q1 2024 earnings at $0.70 EPS, Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.75 EPS and FY2024 earnings at $2.81 EPS.
Astec Industries (NASDAQ:ASTE – Get Rating) last announced its earnings results on Wednesday, May 3rd. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.31. Astec Industries had a return on equity of 6.17% and a net margin of 0.59%. The company had revenue of $347.90 million for the quarter, compared to analyst estimates of $341.36 million. During the same period in the prior year, the company posted $0.41 EPS. Astec Industries’s quarterly revenue was up 19.5% on a year-over-year basis.
Astec Industries Trading Down 2.6 %
NASDAQ:ASTE opened at $42.96 on Friday. Astec Industries has a 1 year low of $31.04 and a 1 year high of $49.56. The stock has a market cap of $975.88 million, a price-to-earnings ratio of 122.74 and a beta of 1.50. The business has a fifty day moving average of $41.15 and a 200-day moving average of $41.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 2.50.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Astec Industries by 4.6% during the first quarter. BlackRock Inc. now owns 4,042,268 shares of the industrial products company’s stock valued at $173,816,000 after purchasing an additional 178,771 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Astec Industries by 1.8% during the third quarter. Vanguard Group Inc. now owns 2,496,814 shares of the industrial products company’s stock valued at $77,876,000 after acquiring an additional 44,174 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Astec Industries by 2.3% during the first quarter. Victory Capital Management Inc. now owns 1,818,215 shares of the industrial products company’s stock valued at $75,001,000 after acquiring an additional 40,997 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Astec Industries by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,463,882 shares of the industrial products company’s stock valued at $60,384,000 after acquiring an additional 12,630 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Astec Industries by 2.5% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,051,377 shares of the industrial products company’s stock worth $43,369,000 after purchasing an additional 25,571 shares in the last quarter. Institutional investors own 90.14% of the company’s stock.
Astec Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Friday, May 12th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, May 11th. This represents a $0.52 annualized dividend and a yield of 1.21%. Astec Industries’s dividend payout ratio is currently 148.57%.
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.
Further Reading
- Get a free research report on Astec Industries from StockNews.com
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