Astec Industries, Inc. (ASTE) to Issue Quarterly Dividend of $0.13 on March 31st

Astec Industries, Inc. (NASDAQ:ASTE) declared a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Monday, March 10th will be paid a dividend of 0.13 per share by the industrial products company on Monday, March 31st. This represents a $0.52 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, March 10th.

Astec Industries has raised its dividend by an average of 4.9% per year over the last three years. Astec Industries has a payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Price Performance

NASDAQ ASTE opened at $31.17 on Wednesday. The company has a 50-day moving average price of $33.50 and a 200-day moving average price of $33.65. Astec Industries has a 52 week low of $28.46 and a 52 week high of $44.74. The company has a quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $710.68 million, a P/E ratio of -389.58 and a beta of 1.31.

Wall Street Analyst Weigh In

A number of analysts have commented on ASTE shares. Robert W. Baird upped their target price on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a report on Thursday, February 20th.

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.