Astec Industries, Inc. (ASTE) To Go Ex-Dividend on May 10th

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, April 29th, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.13 per share by the industrial products company on Friday, May 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, May 10th.

Astec Industries has increased its dividend payment by an average of 5.7% per year over the last three years. Astec Industries has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 20.4 %

Shares of NASDAQ:ASTE traded down $8.53 during midday trading on Wednesday, reaching $33.27. 220,088 shares of the company were exchanged, compared to its average volume of 130,724. Astec Industries has a fifty-two week low of $28.97 and a fifty-two week high of $56.33. 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 stock has a fifty day simple moving average of $41.45 and a two-hundred day simple moving average of $37.37. The firm has a market cap of $756.56 million, a PE ratio of 28.44 and a beta of 1.38.

Astec Industries (NASDAQ:ASTE) last issued its quarterly earnings results on Wednesday, February 28th. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.28. Astec Industries had a net margin of 2.50% and a return on equity of 9.46%. The firm had revenue of $337.20 million for the quarter, compared to analyst estimates of $332.33 million. During the same period in the previous year, the business earned $0.34 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Astec Industries will post 2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Astec Industries from a “hold” rating to a “buy” rating in a report on Monday, March 11th.

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.