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News Breaks
March 10, 2014
05:46 EDTASTEAstec upgraded to Outperform from Neutral at RW Baird
Baird upgraded Astec based on increased public highway and street construction contract growth, low expectations, and improved odds for a multi-year Highway Bill in 2014. Price target raised to $50 from $41.
News For ASTE From The Last 14 Days
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February 24, 2015
07:13 EDTASTEAstec says orders so far in 2015 have been steady
The company said: "With regards to federal highway funding, we believe that there is momentum in Washington, DC to get a long-term bill of some kind passed this year. With this development we are cautiously optimistic for the balance of 2015. Orders so far in 2015 have been steady with the exception of products targeted at the oil exploration industry due to the well-publicized decrease in the price of oil. As a result we have made the difficult decision to consolidate all GEFCO operations in Enid, Oklahoma and to close our Loudon, Tennessee operation effective May 31, 2015. We will work to place our Loudon employees with our other companies wherever possible. This closure will result in cost savings in 2015 that will outweigh the cost of closing the facility. Our balance sheet remains strong with a positive net cash position. We are continuing our acquisition efforts and will work to add companies that represent strategic fits for our business during 2015."
07:13 EDTASTEAstec reports Q4 EPS 37c, consensus 36c
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February 17, 2015
14:16 EDTASTEGabelli raises stake in Astec to 8.35% from 7.33%
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