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Astec Industries Inc - ASTE STOCK NEWS

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

Astec Industries Inc (NASDAQ: ASTE) is a renowned manufacturer of heavy equipment primarily serving the road construction industry. The company designs and produces an array of machinery and components essential for constructing roads, from the initial mining and crushing of materials to the final road surface creation. Their comprehensive product line includes plants, pavers, vehicles, and specialized machines that transform raw materials into essential construction components.

Astec Industries operates through two main segments: Infrastructure Solutions and Materials Solutions, with the former generating the majority of the company’s revenue. Their infrastructure solutions are pivotal in supporting asphalt producers, highway contractors, and heavy equipment operators, while their materials solutions cater to ready-mix concrete producers, demolition recycling markets, sand and gravel producers, and operators of open mines and quarries.

The company's innovative approach and commitment to excellence are evident in its recent achievements and ongoing projects. Astec Industries is continuously enhancing its product offerings to meet the evolving needs of the construction sector, ensuring high performance and reliability.

Financially, Astec Industries maintains a strong presence in the U.S. market, contributing significantly to its revenue. The latest developments include a scheduled conference call to review the company’s financial results for the first quarter of 2024. This event, accessible via a live webcast, underscores the company's commitment to transparency and investor relations.

For more information, Astec Industries maintains an active presence on social media platforms like LinkedIn, Facebook, Instagram, and YouTube, providing regular updates and insights into their operations and advancements.

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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.
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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.
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Astec Industries, Inc. (ASTE) declares a quarterly dividend of $0.13 per share, showcasing commitment to shareholders.
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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.
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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.
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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.
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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.
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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.
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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.
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Astec Industries, Inc. (NASDAQ:ASTE) declares $0.13 per share quarterly dividend
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FAQ

What is the current stock price of Astec Industries (ASTE)?

The current stock price of Astec Industries (ASTE) is $31.94 as of October 11, 2024.

What is the market cap of Astec Industries (ASTE)?

The market cap of Astec Industries (ASTE) is approximately 720.9M.

What does Astec Industries Inc manufacture?

Astec Industries Inc designs and manufactures heavy equipment and components used in road construction, including plants, pavers, vehicles, and machines for asphalt production.

What are the main business segments of Astec Industries Inc?

Astec Industries operates through two main segments: Infrastructure Solutions and Materials Solutions.

Who are the primary customers of Astec Industries Inc?

The primary customers include asphalt producers, highway and heavy equipment contractors, ready mix concrete producers, demolition recycling markets, sand and gravel producers, and open mine and quarry operators.

Where does Astec Industries generate most of its sales?

Most of Astec Industries' sales are derived from the United States market.

What recent achievements has Astec Industries Inc reported?

Astec Industries recently announced a conference call to discuss their first quarter 2024 financial results, indicating ongoing transparency and engagement with investors.

How can I access the latest financial updates about Astec Industries Inc?

You can access the latest financial updates, including their Q1 2024 results, via a live webcast available on their website.

What platforms does Astec Industries Inc use for updates?

Astec Industries maintains active profiles on LinkedIn, Facebook, Instagram, YouTube, and Twitter.

Who should I contact for investor relations at Astec Industries Inc?

For investor relations, you can contact Stephen C. Anderson, Senior Vice President, at sanderson@astecindustries.com or by phone at +1 (423) 899-5898.

Does Astec Industries Inc offer products for demolition recycling markets?

Yes, Astec Industries offers equipment and solutions for demolition recycling markets among others.

What is the significance of Astec Industries in the construction sector?

Astec Industries plays a crucial role by providing essential equipment and technologies that support the entire road construction process, from material preparation to final road surface creation.

Astec Industries Inc

Nasdaq:ASTE

ASTE Rankings

ASTE Stock Data

720.86M
22.77M
1.29%
95.81%
1.58%
Farm & Heavy Construction Machinery
Construction Machinery & Equip
Link
United States of America
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