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

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, July 29th, Zacks reports. Investors 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 yield of 1.49%. The ex-dividend date of this dividend is Monday, August 12th.

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 18.1% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Stock Performance

Shares of ASTE stock opened at $34.97 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.51 and a quick ratio of 0.95. The company’s fifty day moving average price is $31.57 and its two-hundred day moving average price is $35.97. The firm has a market capitalization of $795.92 million, a P/E ratio of 32.08 and a beta of 1.30. Astec Industries has a 12 month low of $28.46 and a 12 month high of $56.33.

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

Insider Buying and Selling

In other news, insider Michael Paul Norris acquired 1,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $33.46 per share, for a total transaction of $33,460.00. Following the completion of the purchase, the insider now directly owns 15,886 shares of the company’s stock, valued at approximately $531,545.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Stifel Nicolaus cut shares of Astec Industries from a “buy” rating to a “hold” rating and cut their price target for the company from $47.00 to $37.00 in a 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.