Astec Industries (NASDAQ:ASTE) Releases Quarterly Earnings Results

Astec Industries (NASDAQ:ASTE) announced its earnings results on Wednesday. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.46, Zacks reports. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.

Astec Industries Trading Up 17.9 %

Shares of NASDAQ ASTE traded up $5.58 during trading hours on Wednesday, reaching $36.75. The stock had a trading volume of 138,681 shares, compared to its average volume of 183,637. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a market cap of $837.95 million, a price-to-earnings ratio of -458.82 and a beta of 1.31. The business’s fifty day moving average price is $33.50 and its two-hundred day moving average price is $33.65. Astec Industries has a 52-week low of $28.46 and a 52-week high of $44.74.

Astec Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.41%. Astec Industries’s payout ratio is -649.92%.

Analysts Set New Price Targets

Several research analysts have issued reports on ASTE shares. Robert W. Baird boosted their target price on Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered Astec Industries from a “buy” rating to a “hold” rating in a research 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.