Astec Industries, Inc. (NASDAQ:ASTE) Short Interest Down 19.9% in March

Astec Industries, Inc. (NASDAQ:ASTE) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 495,363 shares, a decrease of 19.9% from the February 26th total of 618,652 shares. Based on an average daily trading volume, of 271,210 shares, the short-interest ratio is currently 1.8 days. Currently, 2.2% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ASTE shares. Wall Street Zen downgraded Astec Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a report on Monday, December 29th. Zacks Research upgraded shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, Longbow Research raised shares of Astec Industries to a “strong-buy” rating in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Insider Activity at Astec Industries

In other news, insider Edward Terrell Gilbert, Jr. sold 975 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $61.07, for a total value of $59,543.25. Following the completion of the transaction, the insider owned 8,828 shares in the company, valued at $539,125.96. This trade represents a 9.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Astec Industries

Several large investors have recently modified their holdings of the stock. Amalgamated Bank boosted its holdings in shares of Astec Industries by 3.4% during the 3rd quarter. Amalgamated Bank now owns 6,736 shares of the industrial products company’s stock worth $324,000 after buying an additional 224 shares during the period. Horizon Investments LLC raised its holdings in Astec Industries by 2.0% in the 3rd quarter. Horizon Investments LLC now owns 12,236 shares of the industrial products company’s stock valued at $587,000 after acquiring an additional 237 shares during the period. Martin & Co. Inc. TN lifted its position in Astec Industries by 0.5% during the third quarter. Martin & Co. Inc. TN now owns 80,973 shares of the industrial products company’s stock worth $3,897,000 after acquiring an additional 373 shares during the last quarter. Swiss National Bank lifted its position in Astec Industries by 1.5% during the third quarter. Swiss National Bank now owns 39,800 shares of the industrial products company’s stock worth $1,916,000 after acquiring an additional 600 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Astec Industries by 1.2% during the second quarter. Legal & General Group Plc now owns 59,837 shares of the industrial products company’s stock worth $2,495,000 after acquiring an additional 694 shares during the period. 93.16% of the stock is owned by institutional investors.

Astec Industries Price Performance

Shares of NASDAQ ASTE opened at $52.14 on Monday. The company has a quick ratio of 1.07, a current ratio of 2.49 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average price is $55.01 and its two-hundred day moving average price is $49.25. The company has a market cap of $1.19 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.97 and a beta of 1.38. Astec Industries has a twelve month low of $29.65 and a twelve month high of $64.37.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Wednesday, February 25th. The industrial products company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.32. The company had revenue of $400.60 million during the quarter, compared to analysts’ expectations of $374.21 million. Astec Industries had a return on equity of 11.35% and a net margin of 2.75%.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 9th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 9th. Astec Industries’s payout ratio is 30.95%.

About Astec Industries

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.