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

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

Astec Industries has increased its dividend payment by an average of 5.7% annually over the last three years. Astec Industries has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Astec Industries to earn $3.11 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 16.7%.

Astec Industries Stock Down 20.4 %

Shares of NASDAQ ASTE traded down $8.54 during trading on Wednesday, reaching $33.26. 190,901 shares of the stock were exchanged, compared to its average volume of 130,067. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. Astec Industries has a twelve month low of $28.97 and a twelve month high of $56.33. The business’s 50-day moving average price is $41.45 and its 200 day moving average price is $37.37. The company has a market capitalization of $756.33 million, a price-to-earnings ratio of 28.44 and a beta of 1.38.

Astec Industries (NASDAQ:ASTE) last released its earnings results on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.28. The firm had revenue of $337.20 million during the quarter, compared to analyst estimates of $332.33 million. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, equities analysts forecast that Astec Industries will post 2.9 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Monday, March 11th.

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.