Posted by admin on Aug 17th, 2022

Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 416,900 shares, a decrease of 12.6% from the July 15th total of 477,200 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 111,300 shares, the days-to-cover ratio is currently 3.7 days.

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of Astec Industries by 2.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,804 shares of the industrial products company’s stock worth $441,000 after buying an additional 218 shares during the period. Arizona State Retirement System increased its position in shares of Astec Industries by 5.5% during the second quarter. Arizona State Retirement System now owns 6,169 shares of the industrial products company’s stock worth $252,000 after buying an additional 323 shares during the period. Texas Permanent School Fund boosted its stake in Astec Industries by 2.3% during the second quarter. Texas Permanent School Fund now owns 16,510 shares of the industrial products company’s stock worth $673,000 after acquiring an additional 371 shares in the last quarter. Keybank National Association OH boosted its stake in Astec Industries by 4.3% during the second quarter. Keybank National Association OH now owns 9,050 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 374 shares in the last quarter. Finally, Valicenti Advisory Services Inc. boosted its stake in Astec Industries by 0.7% during the second quarter. Valicenti Advisory Services Inc. now owns 74,028 shares of the industrial products company’s stock worth $3,019,000 after acquiring an additional 500 shares in the last quarter. 94.52% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 13th.

Shares of NASDAQ ASTE opened at $45.62 on Wednesday. Astec Industries has a 52-week low of $36.31 and a 52-week high of $75.00. The firm has a 50 day moving average price of $43.51 and a two-hundred day moving average price of $45.14. The stock has a market cap of $1.04 billion, a P/E ratio of 2,281.00 and a beta of 1.35.

Astec Industries (NASDAQ:ASTE – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.33). Astec Industries had a net margin of 0.03% and a return on equity of 3.72%. The business had revenue of $318.20 million during the quarter, compared to analyst estimates of $308.70 million. During the same quarter last year, the company posted $0.49 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Analysts predict that Astec Industries will post 1.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Friday, August 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 11th. Astec Industries’s dividend payout ratio (DPR) is presently 2,400.00%.

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.

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