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

Astec Industries, Inc. (NASDAQ:ASTE - Get Free Report) declared a quarterly dividend on Monday, April 29th, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.13 per share by the industrial products company on Friday, May 31st. This represents a $0.52 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Friday, May 10th.

Astec Industries has increased its dividend payment by an average of 5.7% annually over the last three years. Astec Industries has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Astec Industries to earn $3.11 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 16.7%.

Astec Industries Trading Down 19.2 %

Shares of ASTE traded down $8.03 during midday trading on Wednesday, reaching $33.77. The company had a trading volume of 626,626 shares, compared to its average volume of 135,852. The stock has a market cap of $767.93 million, a PE ratio of 22.97 and a beta of 1.38. The company has a quick ratio of 0.88, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $41.42 and a 200-day simple moving average of $37.35. Astec Industries has a 1-year low of $28.97 and a 1-year high of $56.33.

Astec Industries (NASDAQ:ASTE - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.28. The firm had revenue of $337.20 million for the quarter, compared to the consensus estimate of $332.33 million. Astec Industries had a return on equity of 9.46% and a net margin of 2.50%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Research analysts forecast that Astec Industries will post 2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Astec Industries from a "hold" rating to a "buy" rating in a research report on Monday, March 11th.

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.