Astec Industries, Inc. (NASDAQ:ASTE) Announces $0.13 Quarterly Dividend

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.13 per share by the industrial products company on Friday, May 31st. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, May 10th.

Astec Industries has increased its dividend payment by an average of 5.7% per year over the last three years. Astec Industries has a payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Astec Industries to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 18.6%.

Astec Industries Stock Performance

Shares of Astec Industries stock opened at $33.34 on Wednesday. The stock’s fifty day moving average is $41.22 and its two-hundred day moving average is $37.00. The company has a market capitalization of $758.82 million, a PE ratio of 30.59 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 2.51 and a debt-to-equity ratio of 0.19. Astec Industries has a 52 week low of $28.97 and a 52 week high of $56.33.

Astec Industries (NASDAQ:ASTE) last announced its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47). The business had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. Astec Industries had a net margin of 1.91% and a return on equity of 7.44%. The business’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. As a group, analysts expect that Astec Industries will post 2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ASTE. Stifel Nicolaus downgraded Astec Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $47.00 to $37.00 in a research report on Thursday, May 2nd. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

About Astec Industries

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities worldwide. The company operates in two segments, Infrastructure Solutions and Materials Solutions. The Infrastructure Solutions segment offers asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as engineering and environmental permitting services.