Astec Industries (NASDAQ:ASTE) Issues Earnings Results

Astec Industries (NASDAQ:ASTE) issued its earnings results on Tuesday. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.42, Zacks reports. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%. The firm had revenue of $329.40 million for the quarter, compared to analysts’ expectations of $320.40 million. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year.

Astec Industries Trading Up 6.7 %

Shares of Astec Industries stock opened at $37.63 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. The company has a market capitalization of $858.11 million, a price-to-earnings ratio of -470.32 and a beta of 1.39. The business has a fifty day simple moving average of $34.54 and a two-hundred day simple moving average of $34.57. Astec Industries has a 1 year low of $28.46 and a 1 year high of $42.81.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, May 13th. Astec Industries’s dividend payout ratio is 273.68%.

Wall Street Analyst Weigh In

ASTE has been the subject of a number of recent research reports. StockNews.com raised Astec Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Robert W. Baird increased their price objective on Astec Industries from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, February 27th.

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.