Astec Industries (NASDAQ:ASTE) Reaches New 1-Year Low Following Weak Earnings

Astec Industries, Inc. (NASDAQ:ASTE)’s stock price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $35.20 and last traded at $38.3050, with a volume of 24,754 shares. The stock had previously closed at $39.30.

The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Astec Industries had a net margin of 1.26% and a return on equity of 10.26%. The firm had revenue of $352.40 million during the quarter, compared to analyst estimates of $375.47 million. During the same period last year, the company earned ($0.18) EPS.

Astec Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Monday, November 16th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 16th. Astec Industries’s dividend payout ratio (DPR) is 61.18%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ASTE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday. Zacks Research upgraded shares of Astec Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Astec Industries

Hedge funds have recently modified their holdings of the stock. Fulcrum Asset Management LLP boosted its stake in Astec Industries by 33,770.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 6,774 shares of the industrial products company’s stock valued at $276,000 after buying an additional 6,754 shares in the last quarter. Parallel Advisors LLC grew its position in Astec Industries by 988.4% in the third quarter. Parallel Advisors LLC now owns 751 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 682 shares during the period. CenterBook Partners LP bought a new stake in Astec Industries in the third quarter valued at $1,903,000. Summit Global Investments raised its stake in Astec Industries by 18.5% during the third quarter. Summit Global Investments now owns 28,362 shares of the industrial products company’s stock worth $1,141,000 after acquiring an additional 4,422 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in Astec Industries by 40.7% during the third quarter. Inspire Investing LLC now owns 15,604 shares of the industrial products company’s stock worth $628,000 after acquiring an additional 4,517 shares in the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.

Astec Industries Stock Performance

The company has a market capitalization of $857.20 million, a P/E ratio of 43.81, a PEG ratio of 1.09 and a beta of 1.37. The stock has a fifty day simple moving average of $40.70 and a 200-day simple moving average of $50.51. The company has a quick ratio of 1.10, a current ratio of 2.52 and a debt-to-equity ratio of 0.53.

About Astec Industries

Astec Industries, Inc (NASDAQ: ASTE) designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.