Astec Industries, Inc. (NASDAQ:ASTE) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $30.66 and traded as high as $32.38. Astec Industries shares last traded at $32.26, with a volume of 4,275 shares changing hands.
Several equities research analysts have weighed in on the stock. BidaskClub raised shares of Astec Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. ValuEngine downgraded shares of Astec Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird lifted their price target on shares of Astec Industries from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Astec Industries currently has a consensus rating of “Hold” and a consensus price target of $52.00.
The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 1.10. The company has a 50-day moving average price of $30.65. The firm has a market capitalization of $741.91 million, a P/E ratio of 11.15 and a beta of 1.47.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Monday, May 13th. Astec Industries’s payout ratio is presently 15.07%.
In other Astec Industries news, insider Jaco Van Der Merwe bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $32.75 per share, with a total value of $65,500.00. Following the completion of the transaction, the insider now directly owns 4,579 shares in the company, valued at approximately $149,962.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.
Several large investors have recently bought and sold shares of ASTE. Covington Capital Management purchased a new position in Astec Industries during the fourth quarter worth about $32,000. PNC Financial Services Group Inc. boosted its holdings in Astec Industries by 29.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 391 shares during the last quarter. Bessemer Group Inc. purchased a new position in Astec Industries during the fourth quarter worth about $54,000. Public Employees Retirement System of Ohio boosted its holdings in Astec Industries by 18.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 297 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its holdings in Astec Industries by 32.8% during the fourth quarter. Flinton Capital Management LLC now owns 2,528 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 624 shares during the last quarter. 92.88% of the stock is owned by institutional investors.
About Astec Industries (NASDAQ:ASTE)
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.
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