Analysts predict that Astec Industries, Inc. (NASDAQ:ASTE) will post sales of $343.03 million for the current quarter, according to Zacks. Four analysts have issued estimates for Astec Industries’ earnings, with estimates ranging from $329.60 million to $362.00 million. Astec Industries reported sales of $318.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The company is expected to announce its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Astec Industries will report full-year sales of $343.03 million for the current year, with estimates ranging from $1.32 billion to $1.37 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.39 billion per share, with estimates ranging from $1.33 billion to $1.49 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Astec Industries.
Astec Industries (NASDAQ:ASTE) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The company had revenue of $312.38 million for the quarter, compared to analyst estimates of $288.14 million. Astec Industries had a return on equity of 5.43% and a net margin of 3.19%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share.
Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Astec Industries by 87.5% in the third quarter. Victory Capital Management Inc. now owns 3,633 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 1,695 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Astec Industries in the third quarter valued at about $305,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Astec Industries in the third quarter valued at about $307,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Astec Industries in the fourth quarter valued at about $365,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Astec Industries in the fourth quarter valued at about $393,000. 93.10% of the stock is owned by institutional investors and hedge funds.
Astec Industries (NASDAQ:ASTE) traded down $2.07 during trading hours on Friday, reaching $56.25. 147,303 shares of the company’s stock were exchanged, compared to its average volume of 177,900. The firm has a market capitalization of $1,338.88, a PE ratio of 34.72, a PEG ratio of 1.68 and a beta of 1.07. Astec Industries has a 52 week low of $45.70 and a 52 week high of $66.66.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, March 9th. Astec Industries’s payout ratio is 24.69%.
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About Astec Industries
Astec Industries, Inc designs, engineers, manufactures and markets equipment and components used primarily in road building and related construction activities. Its segments include Infrastructure Group, Aggregate and Mining Group and Energy Group. The Infrastructure Group segment is made up of five business units, including Astec, Inc, Roadtec, Inc, Carlson Paving Products, Inc, Astec Mobile Machinery GmbH and Astec Australia Pty Ltd.
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