Seaport Global Downgrades Astec Industries to Neutral

Brokerage firm Seaport Global Downgrades its rating on Astec Industries(NASDAQ:ASTE). The shares have been rated Neutral. The rating by Seaport Global was issued on Jul 6, 2016.

Astec Industries (ASTE) made into the market gainers list on Mondays trading session with the shares advancing 1.36% or 0.79 points. Due to strong positive momentum, the stock ended at $58.83, which is also near the day’s high of $59.6289. The stock began the session at $58.49 and the volume stood at 89,270 shares. The 52-week high of the shares is $59.6289 and the 52 week low is $30.76. The company has a current market capitalization of $1,356 M and it has 2,30,41,341 shares in outstanding.

Astec Industries(ASTE) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $278.72M. Analysts had an estimated revenue of $302.55M. Earnings per share were $0.77. Analysts had estimated an EPS of $0.71.

Several Insider Transactions has been reported to the SEC. On May 26, 2016, Richard A Patek (Group Pres Aggregate & Mining) sold 1,769 shares at $53.07 per share price.Also, On May 19, 2016, Robin A Leffew (Corporate Controller) sold 404 shares at $52.00 per share price.On May 16, 2016, Jeffrey L May (President-KPI) sold 800 shares at $50.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Astec Industries Inc. designs engineers manufactures and markets equipment and components used primarily in road building and related construction activities. The Company’s products are used in road building from quarrying and crushing the aggregate to application of the road surface. The Company manufactures certain equipment and components unrelated to road construction including equipment for the mining quarrying construction and demolition industries and port and rail yard operators; gas and oil drilling rigs; water well and geothermal drilling rigs; industrial heat transfer equipment; whole-tree pulpwood chippers; horizontal grinders and blower trucks. It also manufactures multiple use plants for cement treated base roller compacted concrete and ready-mix concrete. The Company’s business segments are Infrastructure Group Aggregate and Mining Group and Energy Group.

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