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

Astec Industries, Inc. (NASDAQ:ASTE) declared a quarterly dividend on Monday, July 29th, Zacks reports. Stockholders of record on Monday, August 12th will be given a dividend of 0.13 per share by the industrial products company on Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, August 12th.

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 18.1% meaning its dividend is sufficiently covered by earnings.

Astec Industries Stock Performance

Astec Industries stock opened at $34.97 on Wednesday. Astec Industries has a 1-year low of $28.46 and a 1-year high of $56.33. The company has a current ratio of 2.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $795.92 million, a PE ratio of 32.08 and a beta of 1.30. The firm’s 50 day simple moving average is $31.57 and its 200 day simple moving average is $35.97.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.47). The firm had revenue of $309.20 million during the quarter, compared to the consensus estimate of $343.27 million. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on ASTE. Stifel Nicolaus cut Astec Industries from a “buy” rating to a “hold” rating and lowered their price target for the company from $47.00 to $37.00 in a report on Thursday, May 2nd. StockNews.com cut shares of Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.

Insider Activity

In other news, insider Michael Paul Norris bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $33.46 per share, for a total transaction of $33,460.00. Following the transaction, the insider now directly owns 15,886 shares of the company’s stock, valued at approximately $531,545.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

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.