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

Key Points

• Astec Industries, Inc. announced a quarterly dividend of $0.13 per share, representing an annualized dividend of $0.52 with a yield of 1.28%, payable on August 29th to shareholders of record on August 11th.
• The company reported better-than-expected earnings, with a quarterly EPS of $0.88 that surpassed estimates by $0.42, alongside a revenue increase of 6.5% year-over-year.
• Institutional investors hold a significant share of Astec Industries, with 93.16% of the company's stock owned by various hedge funds and investment firms, reflecting strong institutional interest.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) announced a quarterly dividend on Monday, July 28th, RTT News reports. Shareholders of record on Monday, August 11th will be paid a dividend of 0.13 per share by the industrial products company on Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.28%.

Astec Industries has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings.

Astec Industries Trading Up 1.4%

Shares of ASTE traded up $0.56 during midday trading on Monday, reaching $40.58. The company had a trading volume of 126,994 shares, compared to its average volume of 165,729. Astec Industries has a 1-year low of $29.04 and a 1-year high of $43.35. The stock has a market cap of $928.06 million, a PE ratio of 61.49 and a beta of 1.40. The firm has a 50 day simple moving average of $40.13 and a 200-day simple moving average of $36.79. The company has a quick ratio of 1.09, a current ratio of 2.66 and a debt-to-equity ratio of 0.15.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.42. The business had revenue of $329.40 million during the quarter, compared to the consensus estimate of $320.40 million. Astec Industries had a return on equity of 10.72% and a net margin of 1.15%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Astec Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th.

Institutional Investors Weigh In On Astec Industries

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in Astec Industries by 2.9% during the first quarter. Jane Street Group LLC now owns 46,566 shares of the industrial products company's stock worth $1,604,000 after buying an additional 1,305 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Astec Industries by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 65,577 shares of the industrial products company's stock worth $2,259,000 after buying an additional 1,358 shares during the period. Royal Bank of Canada increased its position in Astec Industries by 15.6% during the first quarter. Royal Bank of Canada now owns 65,654 shares of the industrial products company's stock worth $2,262,000 after buying an additional 8,847 shares during the period. AQR Capital Management LLC acquired a new position in Astec Industries during the first quarter worth approximately $1,526,000. Finally, Millennium Management LLC increased its position in Astec Industries by 188.2% during the first quarter. Millennium Management LLC now owns 148,351 shares of the industrial products company's stock worth $5,111,000 after buying an additional 96,883 shares during the period. Hedge funds and other institutional investors own 93.16% of the company's stock.

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.

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