Astec Industries (NASDAQ:ASTE - Get Free Report) released its quarterly earnings results on Tuesday. The industrial products company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.42, Zacks reports. The business had revenue of $329.40 million for the quarter, compared to the consensus estimate of $320.40 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share.
Astec Industries Trading Up 2.0 %
Shares of NASDAQ:ASTE traded up $0.75 during midday trading on Friday, hitting $38.13. 153,757 shares of the stock traded hands, compared to its average volume of 157,324. The business's 50 day moving average is $34.93 and its two-hundred day moving average is $34.66. The stock has a market capitalization of $869.52 million, a PE ratio of -476.57 and a beta of 1.39. 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 one year low of $28.46 and a one year high of $42.70.
Astec Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.52 annualized dividend and a yield of 1.36%. Astec Industries's payout ratio is currently 78.79%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Robert W. Baird increased their price target on shares of Astec Industries from $40.00 to $41.00 and gave the company a "neutral" rating in a research 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.
Get Our Latest Stock Analysis on ASTE
About Astec Industries
(
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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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