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

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.13 per share by the industrial products company on Wednesday, November 27th. This represents a $0.52 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, November 13th.

Astec Industries has raised its dividend payment by an average of 5.7% per year over the last three years. Astec Industries has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Stock Performance

NASDAQ ASTE opened at $38.91 on Tuesday. The company’s 50 day simple moving average is $31.83 and its two-hundred day simple moving average is $32.41. The stock has a market capitalization of $887.15 million, a PE ratio of -486.31 and a beta of 1.26. Astec Industries has a 1 year low of $28.46 and a 1 year high of $44.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 1.04.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, November 6th. The industrial products company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The company had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. During the same quarter last year, the firm earned ($0.01) EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year.

Analyst Ratings Changes

A number of brokerages have issued reports on ASTE. StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Monday. Robert W. Baird raised their price target on shares of Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Astec Industries Company Profile

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.