Astec Industries (NASDAQ:ASTE) Issues Quarterly Earnings Results

Astec Industries (NASDAQ:ASTE - Get Free Report) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.47), Yahoo Finance reports. The company had revenue of $309.20 million during the quarter, compared to analyst estimates of $343.27 million. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. Astec Industries's quarterly revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS.

Astec Industries Trading Down 1.8 %

Shares of ASTE traded down $0.61 during trading hours on Thursday, hitting $33.16. 453,276 shares of the stock traded hands, compared to its average volume of 139,838. The company has a current ratio of 2.41, a quick ratio of 0.88 and a debt-to-equity ratio of 0.11. Astec Industries has a 1-year low of $28.97 and a 1-year high of $56.33. The firm has a market capitalization of $754.06 million, a PE ratio of 22.56 and a beta of 1.40. The business has a fifty day moving average of $41.39 and a 200-day moving average of $37.32.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, May 10th. Astec Industries's dividend payout ratio (DPR) is presently 35.37%.

Analyst Ratings Changes

ASTE has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered Astec Industries from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $47.00 to $37.00 in a research note on Thursday. StockNews.com lowered Astec Industries from a "buy" rating to a "hold" rating in a research note on Thursday.

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.