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Astec Industries, Inc. (NASDAQ:ASTE) Short Interest Update

Financial News Live · Aug 15, 2022 22:42

Astec Industries, Inc. (NASDAQ:ASTE – Get Rating) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 416,900 shares, a decrease of 12.6% from the July 15th total of 477,200 shares. Based on an average daily volume of 111,300 shares, the short-interest ratio is currently 3.7 days. Approximately 1.9% of the shares of the stock are short sold.

Astec Industries Stock Performance

NASDAQ:ASTE traded up $0.59 on Monday, hitting $45.56. 88,047 shares of the stock were exchanged, compared to its average volume of 127,488. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 2,278.00 and a beta of 1.35. Astec Industries has a 52 week low of $36.31 and a 52 week high of $75.00. The company's 50-day moving average price is $43.57 and its 200 day moving average price is $45.14.

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Astec Industries (NASDAQ:ASTE – Get Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.33). Astec Industries had a return on equity of 3.72% and a net margin of 0.03%. The business had revenue of $318.20 million for the quarter, compared to the consensus estimate of $308.70 million. During the same period last year, the firm earned $0.49 earnings per share. The company's quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities research analysts predict that Astec Industries will post 1.54 earnings per share for the current year.

Astec Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Friday, August 12th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. Astec Industries's dividend payout ratio is currently 2,400.00%.

Institutional Investors Weigh In On Astec Industries

A number of institutional investors have recently made changes to their positions in the stock. Sei Investments Co. acquired a new position in Astec Industries during the second quarter valued at approximately $346,000. Nordea Investment Management AB grew its holdings in shares of Astec Industries by 25.8% in the 2nd quarter. Nordea Investment Management AB now owns 55,759 shares of the industrial products company's stock valued at $2,195,000 after buying an additional 11,446 shares during the period. Franklin Resources Inc. increased its position in shares of Astec Industries by 2,112.4% in the 2nd quarter. Franklin Resources Inc. now owns 665,049 shares of the industrial products company's stock valued at $27,121,000 after buying an additional 634,989 shares in the last quarter. Rhumbline Advisers increased its position in shares of Astec Industries by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 68,658 shares of the industrial products company's stock valued at $2,800,000 after buying an additional 2,137 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Astec Industries during the 2nd quarter worth $246,000. 94.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Astec Industries from a "buy" rating to a "hold" rating in a report on Friday, May 13th.

About Astec Industries

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Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. 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.