Astec Industries (NASDAQ:ASTE) Price Target Raised to $41.00

Astec Industries (NASDAQ:ASTE) had its price target upped by Robert W. Baird from $40.00 to $41.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

Separately, StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th.

Astec Industries Trading Down 0.8 %

ASTE opened at $35.58 on Thursday. The business has a 50 day simple moving average of $33.51 and a two-hundred day simple moving average of $33.70. The firm has a market capitalization of $811.30 million, a price-to-earnings ratio of -444.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. Astec Industries has a one year low of $28.46 and a one year high of $44.74.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.46. The business had revenue of $359.00 million during the quarter, compared to analyst estimates of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Astec Industries’s dividend payout ratio is currently -650.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Easterly Investment Partners LLC grew its stake in shares of Astec Industries by 89.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 40,631 shares of the industrial products company’s stock worth $1,298,000 after buying an additional 19,134 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Astec Industries in the 3rd quarter worth approximately $233,000. Advisors Asset Management Inc. grew its stake in shares of Astec Industries by 7.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,580 shares of the industrial products company’s stock worth $2,478,000 after buying an additional 5,668 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Astec Industries in the 3rd quarter worth approximately $319,000. Finally, John G Ullman & Associates Inc. grew its stake in shares of Astec Industries by 64.3% in the 3rd quarter. John G Ullman & Associates Inc. now owns 134,314 shares of the industrial products company’s stock worth $4,290,000 after buying an additional 52,571 shares during the last quarter. Institutional investors own 93.16% of the company’s stock.

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.