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

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) announced 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 1.47%.

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

Astec Industries Price Performance

NASDAQ:ASTE traded down $0.13 during mid-day trading on Monday, hitting $35.27. 83,553 shares of the stock traded hands, compared to its average volume of 159,485. The business's 50-day moving average price is $34.41 and its 200 day moving average price is $34.52. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. Astec Industries has a 12-month low of $28.46 and a 12-month high of $43.18. The company has a market cap of $804.30 million, a PE ratio of -440.82 and a beta of 1.39.

Astec Industries (NASDAQ:ASTE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.46. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company had revenue of $359.00 million for the quarter, compared to the consensus estimate of $374.10 million.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASTE shares. Robert W. Baird boosted their price objective on Astec Industries from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. StockNews.com raised shares of Astec Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th.

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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