Astec Industries (NASDAQ:ASTE) Posts Quarterly Earnings Results, Meets Estimates

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

Astec Industries Stock Down 1.9 %

Astec Industries stock traded down $0.73 during midday trading on Thursday, reaching $37.33. The stock had a trading volume of 88,487 shares, compared to its average volume of 149,625. The company has a current ratio of 2.50, a quick ratio of 1.04 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $31.69 and a two-hundred day moving average price of $32.57. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74. The company has a market capitalization of $851.12 million, a P/E ratio of -373.06 and a beta of 1.26.

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 dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, November 13th. Astec Industries’s dividend payout ratio (DPR) is currently -519.95%.

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.

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.