Astec Industries, Inc. (NASDAQ:ASTE – Get a rating) recorded a sharp increase in short-term interest during the month of September. As of September 15, there was short interest totaling 426,300 shares, an increase of 13.1% from the total of 376,900 shares as of August 31. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 91,500 shares, the short interest ratio is currently 4.7 days.
Astec Industries Institutional Trading
Several institutional investors and hedge funds have recently changed their positions in ASTE. Byrne Asset Management LLC acquired a new position in Astec Industries in Q4, valued at approximately $37,000. Lazard Asset Management LLC acquired a new position in Astec Industries in Q1 worth approximately $51,000. KBC Group NV acquired a new position in Astec Industries in the 2nd quarter worth approximately $77,000. US Bancorp DE increased its position in Astec Industries by 182.7% in Q2. US Bancorp DE now owns 2,143 shares of the industrial products company valued at $87,000 after acquiring an additional 1,385 shares during the period. Finally, Captrust Financial Advisors strengthened its position in Astec Industries by 31.2% in the 1st quarter. Captrust Financial Advisors now owns 2,639 shares of the industrial products company valued at $113,000 after acquiring an additional 628 shares during the period. 95.14% of the shares are held by hedge funds and other institutional investors.
Astec Industries stock down 2.1%
ASTE lost $0.66 on Friday, hitting $31.19. The company had a trading volume of 167,438 shares, compared to an average volume of 85,683. Astec Industries has a 1-year low of $31.04 and a 1-year high of $75.00. The stock has a market capitalization of $713.00 million, a PE ratio of 1,559.50 and a beta of 1.40. The stock has a 50-day moving average price of $39.92 and a 200-day moving average price of $41.81.
Astec Industries (NASDAQ:ASTE – Get a rating) last reported results on Tuesday, August 2. The industrial products company reported earnings per share of $0.19 for the quarter, missing the consensus estimate of $0.50 per ($0.31). Astec Industries achieved a net margin of 0.03% and a return on equity of 3.72%. The company posted revenue of $318.20 million in the quarter, compared to $308.70 million expected by analysts. During the same period a year earlier, the company posted earnings per share of $0.49. The company’s revenue for the quarter increased 14.6% on an annual basis. As a group, analysts expect Astec Industries to post earnings per share of 1.38 for the current fiscal year.
Astec Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 29. Shareholders of record on Friday August 12 received a dividend of $0.12. This represents an annualized dividend of $0.48 and a dividend yield of 1.54%. The ex-dividend date was Thursday, August 11. Astec Industries’ payout rate is currently 2,400.00%.
Astec Industries Company Profile
Astec Industries, Inc. designs, engineers, manufactures and markets equipment and components used primarily in highway construction and related construction activities in the United States and around the world. 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, sprayers, concrete material handling systems , screeds, heat recovery units, paste backfill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, burners and industrial and asphalt systems, custom concrete plants, material transfer vehicles, soil stabilization and reclamation machines, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and crushers, pump trailers , concrete plants, control systems, liquid terminals, storage equipment and related parts, construction and renovations, polymer plants and concrete mixers, as well as services engineering and environmental permits.
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Astec Industries, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Astec Industries was not on the list.
Although Astec Industries currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here