Astec Industries (NASDAQ:ASTE) Posts Earnings Results

Astec Industries (NASDAQ:ASTE) released its earnings results on Wednesday. The industrial products company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31, Briefing.com reports. The company had revenue of $291.40 million during the quarter, compared to analysts’ expectations of $312.90 million. Astec Industries had a positive return on equity of 6.56% and a negative net margin of 0.18%. The business’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS.

Astec Industries Stock Performance

ASTE stock opened at $37.13 on Friday. The firm has a market cap of $846.60 million, a P/E ratio of -464.13 and a beta of 1.26. The stock’s 50 day simple moving average is $31.75 and its 200 day simple moving average is $32.60. The company has a current ratio of 2.50, a quick ratio of 1.04 and a debt-to-equity ratio of 0.20. Astec Industries has a 12-month low of $28.46 and a 12-month high of $44.74.

Astec Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. Astec Industries’s dividend payout ratio (DPR) is -650.00%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird boosted their target price on shares of Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report 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.