Astec Industries (NASDAQ:ASTE) Issues Earnings Results

Astec Industries (NASDAQ:ASTE) posted its earnings results on Wednesday. The industrial products company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11), Briefing.com reports. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The company had revenue of $345.50 million during the quarter, compared to the consensus estimate of $332.35 million. During the same period last year, the firm posted $0.87 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis.

Astec Industries Stock Performance

Shares of NASDAQ:ASTE traded up $0.04 during midday trading on Friday, hitting $31.78. The company had a trading volume of 93,614 shares, compared to its average volume of 152,059. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.51 and a quick ratio of 0.95. The company has a market cap of $723.47 million, a price-to-earnings ratio of 29.16 and a beta of 1.30. Astec Industries has a 12-month low of $28.46 and a 12-month high of $56.33. The company has a fifty day moving average of $31.47 and a two-hundred day moving average of $35.85.

Astec Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be paid a $0.13 dividend. The ex-dividend date is Monday, August 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.64%. Astec Industries’s dividend payout ratio (DPR) is 47.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ASTE shares. Stifel Nicolaus lowered Astec Industries from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $47.00 to $37.00 in a research note on Thursday, May 2nd. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.

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.