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

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) declared a quarterly dividend on Monday, April 28th, RTT News reports. Stockholders of record on Tuesday, May 13th will be paid a dividend of 0.13 per share by the industrial products company on Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Tuesday, May 13th.

Astec Industries has raised its dividend by an average of 4.9% per year over the last three years. Astec Industries has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Price Performance

NASDAQ:ASTE traded up $0.75 during trading hours on Friday, reaching $38.13. The company had a trading volume of 153,757 shares, compared to its average volume of 156,111. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $34.93 and a two-hundred day moving average of $34.68. Astec Industries has a one year low of $28.46 and a one year high of $42.70. The firm has a market capitalization of $869.52 million, a PE ratio of -476.57 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE - Get Free Report) last announced 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 analysts' expectations of $320.40 million. Astec Industries had a negative net margin of 0.15% and a positive return on equity of 7.69%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on ASTE. StockNews.com upgraded Astec Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Robert W. Baird lifted their price target on Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, February 27th.

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.