Astec Industries, Inc. (NASDAQ:ASTE) – Equities researchers at Griffin Securities increased their Q3 2018 EPS estimates for shares of Astec Industries in a research report issued on Wednesday, Zacks Investment Research reports. Griffin Securities analyst M. Ajzenman now expects that the industrial products company will post earnings of $0.62 per share for the quarter, up from their previous forecast of $0.60. Griffin Securities also issued estimates for Astec Industries’ Q4 2018 earnings at $0.97 EPS.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). Astec Industries had a return on equity of 5.89% and a net margin of 3.27%. The firm had revenue of $252.10 million for the quarter, compared to analyst estimates of $261.06 million. During the same quarter last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year.
Several other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Astec Industries from a “b” rating to a “c+” rating in a research report on Tuesday, October 24th. Robert W. Baird upgraded shares of Astec Industries from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $56.00 to $65.00 in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Astec Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Dougherty & Co cut shares of Astec Industries from a “buy” rating to a “neutral” rating and set a $85.00 price target for the company. in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Astec Industries presently has a consensus rating of “Hold” and a consensus target price of $75.00.
Shares of Astec Industries (ASTE) opened at $52.56 on Thursday. Astec Industries has a 12-month low of $45.70 and a 12-month high of $73.37. The firm has a market cap of $1,212.56, a price-to-earnings ratio of 31.29, a PEG ratio of 3.27 and a beta of 1.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, November 10th. Astec Industries’s dividend payout ratio is currently 23.81%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Astec Industries by 2.5% during the second quarter. BlackRock Inc. now owns 2,376,181 shares of the industrial products company’s stock valued at $131,901,000 after buying an additional 58,250 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Astec Industries by 2.1% during the second quarter. Vanguard Group Inc. now owns 1,845,916 shares of the industrial products company’s stock valued at $102,467,000 after buying an additional 38,810 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Astec Industries by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,591,790 shares of the industrial products company’s stock valued at $88,360,000 after buying an additional 88,543 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Astec Industries by 10.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 1,490,000 shares of the industrial products company’s stock valued at $83,455,000 after purchasing an additional 140,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Astec Industries by 21.0% during the third quarter. Gamco Investors INC. ET AL now owns 1,274,239 shares of the industrial products company’s stock valued at $71,370,000 after purchasing an additional 221,167 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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