Astec Industries, Inc. (ASTE) Bundle
A Brief History of Astec Industries, Inc. (ASTE)
Company Overview
Astec Industries, Inc. (NASDAQ: ASTE) is headquartered in Chattanooga, Tennessee. Founded in 1972, the company operates in the infrastructure and aggregate equipment manufacturing sector.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $1.28 billion |
| Net Income | $54.3 million |
| Market Capitalization | $638 million |
| Earnings Per Share | $2.47 |
Business Segments
- Infrastructure Group
- Aggregate and Mining Group
- Asphalt and Concrete Group
- Specialty Equipment Group
Stock Performance
As of January 2024, Astec Industries stock (ASTE) trades at approximately $41.75 per share, with a 52-week range between $33.51 and $47.64.
Operational Highlights
- Operates manufacturing facilities in multiple U.S. locations
- Employs approximately 2,700 workers
- Exports products to over 30 countries
Recent Developments
In 2023, Astec Industries completed strategic restructuring efforts, focusing on improving operational efficiency and profitability.
A Who Owns Astec Industries, Inc. (ASTE)
Major Institutional Shareholders
| Investor | Shares | Percentage |
|---|---|---|
| BlackRock Inc. | 1,834,525 | 16.42% |
| Renaissance Technologies LLC | 722,247 | 6.46% |
| Vanguard Group Inc. | 669,526 | 5.99% |
| State Street Corporation | 408,713 | 3.66% |
Insider Ownership
As of the latest available data, Ben G. Brock serves as President and CEO, holding significant insider shares.
Ownership Breakdown
- Institutional Investors: 72.3%
- Insider Ownership: 3.7%
- Retail Investors: 24%
Top Institutional Investors
| Institution | Total Value | Quarters Held |
|---|---|---|
| Dimensional Fund Advisors | $52,618,000 | 4 |
| JPMorgan Chase & Co. | $28,115,000 | 4 |
| Goldman Sachs Group Inc. | $22,436,000 | 4 |
Astec Industries, Inc. (ASTE) Mission Statement
Company Overview
Astec Industries, Inc. is a publicly traded company (NASDAQ: ASTE) with a market capitalization of $521.3 million as of January 2024. The company reported annual revenue of $1.29 billion for the fiscal year 2023.
Core Business Segments
| Business Segment | Revenue Contribution | Primary Products |
|---|---|---|
| Infrastructure Group | 42.5% | Road building equipment |
| Materials Processing Group | 33.7% | Aggregate processing equipment |
| Energy Equipment Group | 23.8% | Oil and gas processing equipment |
Strategic Objectives
- Maintain technological leadership in manufacturing specialized equipment
- Expand global market presence
- Achieve sustainable growth through innovation
Financial Performance Metrics
Key financial indicators for 2023:
- Gross Profit Margin: 24.6%
- Net Income: $73.4 million
- Return on Equity (ROE): 12.3%
- Earnings Per Share (EPS): $3.87
Global Operational Footprint
Geographic Revenue Distribution:
| Region | Revenue Percentage |
|---|---|
| North America | 78.5% |
| International Markets | 21.5% |
Research and Development Investment
R&D Spending in 2023: $42.6 million, representing 3.3% of total revenue
How Astec Industries, Inc. (ASTE) Works
Company Overview
Astec Industries, Inc. is a manufacturer of equipment for infrastructure and aggregate processing industries. Headquartered in Chattanooga, Tennessee, the company was founded in 1972.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $1.37 billion |
| Net Income | $67.4 million |
| Market Capitalization | $822.5 million |
| Stock Price (as of January 2024) | $63.87 |
Business Segments
- Infrastructure Group
- Aggregate and Mining Group
- Asphalt and Concrete Group
- Specialty Equipment Group
Product Lines
Astec Industries manufactures equipment including:
- Asphalt mixing plants
- Concrete batch plants
- Aggregate processing equipment
- Mobile industrial equipment
- Road building machinery
Manufacturing Locations
| Location | State | Primary Manufacturing Focus |
|---|---|---|
| Chattanooga | Tennessee | Corporate Headquarters |
| Orlando | Florida | Asphalt Plant Production |
| Burnsville | Minnesota | Aggregate Equipment |
Workforce
Total Employees: 3,200
Stock Information
NYSE Ticker Symbol: ASTE
Dividend Yield: 1.2%
Research and Development
Annual R&D Investment: $42.3 million
How Astec Industries, Inc. (ASTE) Makes Money
Revenue Segments
Astec Industries, Inc. generates revenue through four primary business segments:
- Infrastructure Solutions Group
- Material Handling
- Construction
- Energy
Financial Performance
| Financial Metric | 2022 Value | 2023 Value |
|---|---|---|
| Total Revenue | $1.34 billion | $1.27 billion |
| Net Income | $63.4 million | $54.2 million |
| Gross Profit Margin | 23.1% | 22.7% |
Infrastructure Solutions Group
This segment generates revenue through manufacturing asphalt and concrete production equipment, with 2023 segment revenue of $527.3 million.
Material Handling Segment
Produces conveying equipment and material handling solutions, generating $312.6 million in 2023 revenue.
Construction Equipment Segment
Manufactures equipment for construction and mining industries, with 2023 revenue of $276.4 million.
Energy Segment
Provides equipment for oil, gas, and renewable energy sectors, generating $156.8 million in 2023 revenue.
Geographic Revenue Distribution
| Region | 2023 Revenue | Percentage |
|---|---|---|
| United States | $1.09 billion | 85.8% |
| International Markets | $180.5 million | 14.2% |
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