Astec Industries, Inc. (NASDAQ:ASTE – Free Report) – Analysts at Zacks Research boosted their Q3 2023 EPS estimates for shares of Astec Industries in a research report issued on Thursday, September 14th. Zacks Research analyst S. Deb now forecasts that the industrial products company will earn $0.58 per share for the quarter, up from their prior estimate of $0.48. The consensus estimate for Astec Industries’ current full-year earnings is $3.21 per share. Zacks Research also issued estimates for Astec Industries’ Q4 2023 earnings at $0.70 EPS, FY2023 earnings at $3.05 EPS, Q1 2024 earnings at $0.83 EPS, Q2 2024 earnings at $0.87 EPS, Q3 2024 earnings at $0.83 EPS, Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.80 EPS and FY2025 earnings at $3.21 EPS.
ASTE has been the subject of several other reports. Robert W. Baird lifted their target price on shares of Astec Industries from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. TheStreet upgraded shares of Astec Industries from a “c+” rating to a “b-” rating in a research report on Thursday, August 17th. Finally, StockNews.com initiated coverage on Astec Industries in a research report on Thursday, August 17th. They set a “buy” rating on the stock.
Astec Industries Price Performance
Astec Industries stock opened at $48.18 on Monday. Astec Industries has a 52 week low of $31.04 and a 52 week high of $56.33. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 43.80 and a beta of 1.57. The company has a quick ratio of 0.93, a current ratio of 2.56 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $50.28 and a 200 day simple moving average of $44.58.
Astec Industries (NASDAQ:ASTE – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The industrial products company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.59 by $0.28. Astec Industries had a return on equity of 8.62% and a net margin of 1.83%. The business had revenue of $350.00 million during the quarter, compared to analysts’ expectations of $348.74 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of ASTE. Teachers Retirement System of The State of Kentucky boosted its position in Astec Industries by 5.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,397 shares of the industrial products company’s stock valued at $336,000 after buying an additional 401 shares during the period. Wells Fargo & Company MN boosted its position in Astec Industries by 86.0% during the second quarter. Wells Fargo & Company MN now owns 10,516 shares of the industrial products company’s stock valued at $478,000 after buying an additional 4,861 shares during the period. Public Employees Retirement System of Ohio boosted its position in Astec Industries by 11.0% during the second quarter. Public Employees Retirement System of Ohio now owns 12,594 shares of the industrial products company’s stock valued at $572,000 after buying an additional 1,248 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Astec Industries by 6.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,055 shares of the industrial products company’s stock valued at $230,000 after buying an additional 300 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Astec Industries during the second quarter valued at about $230,000. 90.82% of the stock is currently owned by institutional investors.
Astec Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Friday, August 11th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Thursday, August 10th. Astec Industries’s payout ratio is currently 47.27%.
About Astec Industries
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.
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