Michael Paul Norris Purchases 1,000 Shares of Astec Industries, Inc. (NASDAQ:ASTE) Stock

Astec Industries, Inc. (NASDAQ:ASTEGet Free Report) insider Michael Paul Norris bought 1,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $33.46 per share, for a total transaction of $33,460.00. Following the completion of the acquisition, the insider now owns 15,886 shares of the company’s stock, valued at $531,545.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Astec Industries Price Performance

ASTE opened at $34.89 on Friday. The stock has a fifty day moving average of $41.00 and a 200-day moving average of $36.96. The firm has a market capitalization of $794.10 million, a P/E ratio of 32.01 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 2.51 and a debt-to-equity ratio of 0.19. Astec Industries, Inc. has a 12-month low of $28.97 and a 12-month high of $56.33.

Astec Industries (NASDAQ:ASTEGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47). Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The company had revenue of $309.20 million for the quarter, compared to analysts’ expectations of $343.27 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s revenue was down 11.1% on a year-over-year basis. Equities analysts forecast that Astec Industries, Inc. will post 2.44 EPS for the current fiscal year.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Friday, May 10th. Astec Industries’s payout ratio is presently 47.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $37.00 in a research note on Thursday, May 2nd.

Read Our Latest Stock Analysis on ASTE

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Astec Industries in the fourth quarter valued at about $42,000. GAMMA Investing LLC acquired a new position in shares of Astec Industries in the 4th quarter valued at $44,000. TFO Wealth Partners LLC lifted its holdings in shares of Astec Industries by 41,600.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,251 shares of the industrial products company’s stock worth $47,000 after acquiring an additional 1,248 shares during the period. Central Pacific Bank Trust Division bought a new stake in Astec Industries in the first quarter valued at about $85,000. Finally, Northwest Investment Counselors LLC bought a new position in Astec Industries during the first quarter worth about $98,000. 93.16% of the stock is currently owned by institutional investors and hedge funds.

Astec Industries Company Profile

(Get Free Report)

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.

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