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Astec Industries Inc. - ASTE STOCK NEWS

Welcome to our dedicated news page for Astec Industries (Ticker: ASTE), a resource for investors and traders seeking the latest updates and insights on Astec Industries.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Astec Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Astec Industries's position in the market.

News
Astec Industries, Inc. (NASDAQ: ASTE) Announces the Company’s First Quarter Conference Call on May 1, 2024 at 8:30 A.M. Eastern Time
Rhea-AI Summary
Astec Industries, Inc. (ASTE) announces a conference call to discuss its first quarter 2024 financial results. The call, led by company executives, will take place on May 1, 2024, providing insights into the company's performance and future outlook.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.05%
Tags
none
-
News
Astec Announces Chief Financial Officer Transition
Rhea-AI Summary
Astec Industries, Inc. appoints Heinrich Jonker as interim Chief Financial Officer following Rebecca A. Weyenberg's decision to step down. The Board initiates a search for the next CFO. Jonker brings extensive public company experience and a strong finance background.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.27%
Tags
none
-
News
Astec Reports Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Astec Industries, Inc. reported a decrease in net sales by 3.6% to $337.2 million in the fourth quarter of 2023, while full-year net sales increased by 5.0% to $1.3 billion. Gross margin improved significantly, with diluted EPS of $0.65 compared to $(0.04) in the quarter. Backlog stood at $569.8 million as of December 31, 2023, showing positive momentum in implied orders. The company anticipates strong demand for asphalt road building and concrete production equipment, focusing on top-line growth, margin improvements, and free cash flow generation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.47%
Tags
earnings
News
Astec Announces Quarterly Dividend
Rhea-AI Summary
Astec Industries, Inc. (ASTE) declares a quarterly dividend of $0.13 per share, showcasing commitment to shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.69%
Tags
dividends
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News
Astec Industries, Inc. (NASDAQ: ASTE) Announces the Company’s Fourth Quarter and Full Year 2023 Conference Call on February 28, 2024 at 8:30 A.M. Eastern Time
Rhea-AI Summary
Astec Industries, Inc. (ASTE) will hold a conference call to discuss its fourth quarter and full year 2023 financial results. The call will take place on Wednesday, February 28, 2024, at 8:30 a.m. Eastern Time, hosted by President and CEO Jaco van der Merwe, CFO Rebecca A. Weyenberg, and Senior VP Stephen C. Anderson. Participants can access the call via phone or live webcast, and an archived webcast will be available for ninety days. A replay and transcript of the call will also be provided.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.64%
Tags
none
-
News
ASTEC Appoints Two New Members to Board of Directors, One Director Retiring
Rhea-AI Summary
Astec Industries, Inc. (Nasdaq: ASTE) has appointed new independent directors, Mr. Patrick S. Shannon and Mr. Jeffrey T. Jackson, to the Board, effective January 18, 2024. The company also announced the retirement of Mr. William Bradley Southern as a member of the Board. With the addition of Mr. Shannon and Mr. Jackson, the Board now consists of 11 directors, 10 of whom are independent. Mr. Shannon will join the Audit Committee, while Mr. Jackson will serve on the Compensation Committee. The Chairman of the Board expressed gratitude to Mr. Southern for his service and welcomed the new directors, highlighting their extensive experience in finance and manufacturing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.9%
Tags
management
News
Astec Releases Inaugural Corporate Sustainability Report
Rhea-AI Summary
Astec Industries, Inc. (NASDAQ: ASTE) has released its 2023 Corporate Sustainability Report, highlighting the company's ESG journey and commitment to long-term sustainable growth. The report reflects the company's Core Values and vision to build industry-changing solutions that create life-changing opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.23%
Tags
none
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News
Astec Industries, Inc. (NASDAQ: ASTE) Announces Materials Solutions Group President Transition
Rhea-AI Summary
Astec Industries, Inc. (Nasdaq: ASTE) has appointed Michael Norris as the Materials Solutions Group President. Norris, who joined the company in 2018, brings extensive experience and knowledge to the role, having previously served as VP International and Senior Vice President – International and Aftermarket Sales. The company's President and CEO, Jaco van der Merwe, expressed confidence in Norris's ability to drive innovation and lead the business forward. Norris also expressed his enthusiasm for the new role, highlighting his dedication to the company's growth and success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.47%
Tags
none
-
News
Astec to Present at Baird’s 2023 Global Industrial Conference
Rhea-AI Summary
Astec Industries, Inc. (NASDAQ: ASTE) announced that its President and CEO, CFO, and Senior VP of Administration and Investor Relations will be presenting at Baird's 2023 Global Industrial Conference on November 7, 2023. The webcast will be available to the public from 12:00 PM to 12:30 PM Central Time.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
conferences
News
Astec Reports Third Quarter 2023 Results
Rhea-AI Summary
Astec Industries, Inc. (Nasdaq: ASTE) reported its financial results for Q3 2023. Net sales decreased 3.8% to $303.1 million in the quarter, while year-to-date net sales increased 8.3% to $1.0 billion. Gross margin increased 220 basis points to 23.0% in the quarter, and year-to-date gross margin increased 320 basis points to 24.1%. Diluted EPS was $(0.29) compared to $0.03 in the quarter, largely due to a litigation loss contingency of $6.4 million. Backlog as of September 30, 2023, was $614.7 million, continuing to normalize from a peak of $969.0 million in 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-22.2%
Tags
earnings
Stock ASTE logo
Astec Industries Inc.

Nasdaq:ASTE

ASTE Rankings

#2419 Ranked by Market Cap
#2722 Ranked by Stock Gains
#1733 Ranked by Dividends

ASTE Stock Data

959.77M
22.47M
1.14%
94.12%
1.69%
Heavy Duty Truck Manufacturing
Manufacturing
Link
US
Chattanooga

About ASTE

manufacturer of heavy equipment for the production of asphalt.