Astec Industries (NASDAQ:ASTE) Announces Earnings Results

Astec Industries (NASDAQ:ASTE) released its earnings results on Tuesday. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating 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 in the previous year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

Astec Industries Trading Up 6.7 %

NASDAQ:ASTE opened at $37.63 on Wednesday. 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 stock has a market capitalization of $858.11 million, a price-to-earnings ratio of -470.32 and a beta of 1.39. The firm 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 12 month low of $28.46 and a 12 month high of $42.81.

Astec Industries Announces Dividend

The business 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 $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, May 13th. Astec Industries’s payout ratio is 273.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Robert W. Baird raised their price target on shares of Astec Industries from $40.00 to $41.00 and gave the company a “neutral” rating in a research note 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.