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

Astec Industries, Inc. (NASDAQ:ASTE) declared a quarterly dividend on Monday, February 24th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.13 per share by the industrial products company on Monday, March 31st. This represents a $0.52 dividend on an annualized basis and a yield of 1.71%.

Astec Industries has increased its dividend by an average of 4.9% per year over the last three years. Astec Industries has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Stock Down 1.9 %

Shares of NASDAQ ASTE opened at $30.40 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The company has a 50-day moving average price of $33.50 and a 200-day moving average price of $33.65. The stock has a market capitalization of $693.12 million, a P/E ratio of -379.95 and a beta of 1.31. Astec Industries has a 1 year low of $28.46 and a 1 year high of $44.74.

Wall Street Analysts Forecast Growth

ASTE has been the subject of several analyst reports. Robert W. Baird increased their price objective on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.

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.