Astec Industries (NASDAQ:ASTE) Earns “Hold (C+)” Rating from Weiss Ratings

Astec Industries (NASDAQ:ASTE)‘s stock had its “hold (c+)” rating reissued by stock analysts at Weiss Ratings in a report issued on Thursday,Weiss Ratings reports.

Separately, Zacks Research raised Astec Industries to a “hold” rating in a research note on Tuesday, October 7th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Astec Industries presently has an average rating of “Hold” and an average target price of $41.00.

Astec Industries Stock Down 0.5%

Shares of ASTE opened at $46.53 on Thursday. The firm has a market cap of $1.06 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.32 and a beta of 1.43. The stock has a 50 day simple moving average of $47.17 and a two-hundred day simple moving average of $42.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.71 and a quick ratio of 1.08. Astec Industries has a 1 year low of $29.65 and a 1 year high of $50.83.

Astec Industries (NASDAQ:ASTE) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.28. The business had revenue of $330.30 million during the quarter, compared to analyst estimates of $361.00 million. Astec Industries had a return on equity of 11.52% and a net margin of 3.50%.

Insider Activity at Astec Industries

In related news, insider Barend Snyman sold 2,498 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $47.22, for a total transaction of $117,955.56. Following the completion of the transaction, the insider owned 15,559 shares in the company, valued at $734,695.98. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Astec Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in Astec Industries by 190.4% in the third quarter. Teacher Retirement System of Texas now owns 14,234 shares of the industrial products company’s stock worth $685,000 after purchasing an additional 9,332 shares in the last quarter. Amalgamated Bank raised its holdings in Astec Industries by 3.4% in the third quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 224 shares in the last quarter. Ritholtz Wealth Management bought a new position in Astec Industries in the third quarter worth $204,000. SG Americas Securities LLC bought a new position in Astec Industries in the third quarter worth $136,000. Finally, CWA Asset Management Group LLC bought a new position in Astec Industries in the third quarter worth $1,027,000. 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.