Astec Industries (NASDAQ:ASTE) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Astec Industries, Inc. (NASDAQ:ASTE) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $43.91 and traded as high as $47.26. Astec Industries shares last traded at $46.25, with a volume of 162,106 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ASTE shares. Zacks Research raised shares of Astec Industries to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Astec Industries in a research report on Monday. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Astec Industries has a consensus rating of “Hold” and a consensus price target of $41.00.

Astec Industries Stock Down 0.8%

The stock has a fifty day simple moving average of $45.36 and a two-hundred day simple moving average of $43.97. The firm has a market cap of $1.05 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 2.23 and a beta of 1.43. The company has a current ratio of 2.58, a quick ratio of 1.01 and a debt-to-equity ratio of 0.48.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. Astec Industries had a net margin of 3.50% and a return on equity of 11.93%. The company had revenue of $350.10 million during the quarter, compared to analysts’ expectations of $336.00 million.

Astec Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 10th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, November 10th. Astec Industries’s dividend payout ratio is 25.00%.

Hedge Funds Weigh In On Astec Industries

A number of institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in Astec Industries in the second quarter worth $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Astec Industries in the 1st quarter worth about $36,000. iSAM Funds UK Ltd purchased a new position in shares of Astec Industries in the 3rd quarter worth about $50,000. Tompkins Financial Corp increased its position in shares of Astec Industries by 30.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,300 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 300 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Astec Industries by 412.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,212 shares of the industrial products company’s stock valued at $92,000 after buying an additional 1,780 shares in the last quarter. 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.