Astec Industries, Inc. (NASDAQ:ASTE) declared a quarterly dividend on Thursday, October 25th, NASDAQ reports. Stockholders of record on Tuesday, November 13th will be paid a dividend of 0.11 per share by the industrial products company on Wednesday, November 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, November 9th.
Astec Industries has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Astec Industries to earn $3.08 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.3%.
Shares of Astec Industries stock opened at $39.02 on Thursday. The stock has a market cap of $849.44 million, a PE ratio of 24.70 and a beta of 1.39. The company has a quick ratio of 0.94, a current ratio of 3.02 and a debt-to-equity ratio of 0.04. Astec Industries has a twelve month low of $32.51 and a twelve month high of $64.80.
Astec Industries declared that its Board of Directors has authorized a share buyback plan on Monday, July 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently weighed in on ASTE shares. Stifel Nicolaus cut their price objective on Astec Industries from $65.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 25th. BidaskClub upgraded Astec Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, September 25th. TheStreet lowered Astec Industries from a “b” rating to a “c+” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded Astec Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, William Blair lowered Astec Industries from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $64.00.
Astec Industries Company Profile
Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company operates through Infrastructure Group, Aggregate and Mining Group, and Energy Group segments.
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