Shares of Astec Industries (NASDAQ:ASTE) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $67.25.
Several research analysts recently weighed in on ASTE shares. Robert W. Baird reaffirmed a “buy” rating and set a $64.00 target price on shares of Astec Industries in a research note on Friday, April 13th. Dougherty & Co raised Astec Industries from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, February 21st. ValuEngine raised Astec Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Seaport Global Securities reaffirmed a “hold” rating on shares of Astec Industries in a research note on Tuesday, January 23rd. Finally, BidaskClub cut Astec Industries from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st.
Shares of Astec Industries opened at $56.50 on Monday, MarketBeat.com reports. Astec Industries has a fifty-two week low of $45.70 and a fifty-two week high of $64.80. The stock has a market cap of $1.30 billion, a P/E ratio of 35.76, a PEG ratio of 1.67 and a beta of 1.15.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Monday, May 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, May 11th. Astec Industries’s dividend payout ratio is 25.32%.
In other news, CEO Benjamin G. Brock sold 11,000 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $54.41, for a total transaction of $598,510.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Global X Management Co. LLC lifted its holdings in shares of Astec Industries by 316.7% during the first quarter. Global X Management Co. LLC now owns 4,667 shares of the industrial products company’s stock valued at $258,000 after purchasing an additional 3,547 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Astec Industries during the first quarter valued at $304,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Astec Industries during the fourth quarter valued at $365,000. Teacher Retirement System of Texas purchased a new stake in shares of Astec Industries during the fourth quarter valued at $393,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Astec Industries by 100.8% during the fourth quarter. UBS Asset Management Americas Inc. now owns 7,492 shares of the industrial products company’s stock valued at $438,000 after purchasing an additional 3,760 shares during the last quarter. 91.94% of the stock is owned by institutional investors and hedge funds.
About Astec Industries
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 operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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