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

Key Points

• Astec Industries declared a quarterly dividend of $0.13 per share, payable December 4 to shareholders of record November 16. The annualized dividend is $0.52 per share, representing a 1.3% yield.
• The dividend appears well covered, with a current payout ratio of 16.3%; analysts expect next year’s earnings to support an estimated payout ratio of 13.5%.
• Astec’s stock opened at $40.09, near its 52-week low of $37.49 and well below its 52-week high of $65.69. The company’s latest quarterly EPS of $0.94 missed estimates, although revenue slightly exceeded expectations.

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) announced a quarterly dividend on Monday, November 2nd. Shareholders of record on Monday, November 16th will be paid a dividend of $0.13 per share by the industrial products company on Friday, December 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, November 16th.

Astec Industries has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Astec Industries to earn $3.84 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 13.5%.

Astec Industries Stock Performance

NASDAQ:ASTE opened at $40.09 on Tuesday. The business's fifty day moving average is $40.86 and its 200 day moving average is $50.60. The firm has a market cap of $923.07 million, a price-to-earnings ratio of 47.17, a PEG ratio of 1.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 2.52. Astec Industries has a 52-week low of $37.49 and a 52-week high of $65.69.

Astec Industries (NASDAQ:ASTE - Get Free Report) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). Astec Industries had a return on equity of 10.26% and a net margin of 1.26%. The firm had revenue of $408.10 million during the quarter, compared to analysts' expectations of $405.50 million. During the same quarter in the prior year, the company earned $0.72 earnings per share. Research analysts predict that Astec Industries will post 3.35 EPS for the current year.

About Astec Industries

Astec Industries, Inc NASDAQ: ASTE designs, engineers and manufactures equipment used in the construction of roads, bridges and other infrastructure. The company serves businesses involved in the production and processing of aggregates, asphalt, concrete and other construction materials.

Its product portfolio includes asphalt plants and related equipment, concrete production systems, aggregate crushing, screening and material-handling equipment, wood-processing equipment, and machinery used in road construction and rehabilitation.

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