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Austin Engineering Ltd ASX:ANG

Mining Services Engineering Services Margin Expansion Turnaround

0 opened or increased3 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 10 managers in total.

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202420252026

30 Jul 2024 to today

Commentary Showing 2 of 44

DateManagerActionSummary

31 Aug 2026DMX Asset ManagementHeldDMX Asset Management continues to hold Austin Engineering without change, noting the mining equipment company recovered 24% on the back of full-year results in line with prior guidance. The manager notes FY27 guidance sits below broker analyst expectations but still represents a healthy improvement on a challenging FY26, highlighting impressive working capital management, with inventories well controlled and the balance sheet strengthening significantly over the period.

Monthly Report, price recorded $0.18

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30 Jun 2026DMX Asset ManagementHeldDMX Asset Management continues to hold Austin Engineering despite an 18% decline in June after the company announced another operational and earnings downgrade mid-month, leaving shares down more than 50% from their 12-month highs and over 75% from prior-year highs. The manager notes that given the well-telegraphed issues the company has faced over the past year, it did not consider the most recent downgrade particularly significant, and highlights that Austin's shares now trade below net tangible assets despite the company remaining profitable and generating positive cash flow. DMX identifies Austin Engineering as one of the names that has held back fund results to date.

Mining ServicesMonthly Report, price recorded $0.14

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Articles

About Austin Engineering Ltd

Materials, Machinery

Austin Engineering (ASX:ANG) is a mining equipment manufacturer that DMX Asset Management has backed through a bumpy turnaround. In August 2026, DMX said Austin recovered 24% on full-year results in line with prior guidance, noting FY27 guidance was below analyst expectations but still a healthy improvement. Earlier in 2026, DMX reported a further operational downgrade and steep share price declines, while Wentworth Williamson built a position after the shares halved, viewing cost overruns and softer demand as temporary. Austin Engineering operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 44 comments from 10 fund managers, including DMX Asset Management and Wentworth Williamson. Founded in 1982 and headquartered in Kewdale, Perth, Austin Engineering designs and manufactures customised dump truck bodies, mining buckets and ancillary equipment for the global mining industry, with operations in Australia, the Americas and Asia.

Market cap: $85m
Price to earnings: 17.8x
Return on equity: 4.7%
Dividend yield: 8.6%
Price to book: 0.84x
Net margin: 1.9%
52-week range: $0.14 to $0.32

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Austin Engineering Ltd (ASX:ANG)?

Fund managers including Thorney Investment Group, DMX Asset Management, Monash Investors, Ryder Capital, Katana Asset Management, QVG Capital, Wilson Asset Management, Tyndall Asset Management, Wentworth Williamson and Renaissance Asset Management have invested in Austin Engineering Ltd (ASX:ANG).

What opportunities or catalysts do fund managers highlight for Austin Engineering Ltd?

DMX highlights FY26 results in line with guidance and FY27 guidance implying a meaningful improvement in earnings, while Wentworth Williamson sees value on normalised earnings, viewing cost overruns and a temporary softening in Australian and US demand as transitory.

What are the key risks to the Austin Engineering Ltd investment thesis, according to fund managers?

DMX notes Austin announced a further operational and earnings downgrade in mid-2026, leaving the shares more than 75% below prior highs, and it dropped out of the All Ordinaries index. FY27 guidance also came in below broker expectations.

What does Austin Engineering Ltd (ASX:ANG) do?

Austin Engineering Ltd (est. 1982) designs and manufactures customized dump truck bodies, mining buckets, and ancillary equipment. Headquartered in Kewdale, Australia, the company serves the global mining sector through three primary geographical segments: Asia-Pacific, North America, and South America.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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