Astec Industries, Inc. (NASDAQ:ASTE) to Issue $0.13 Quarterly Dividend

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, February 24th, RTT News reports. Shareholders of record on Monday, March 10th will be given 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 1.71%.

Astec Industries has raised its dividend payment by an average of 4.9% annually over the last three years. Astec Industries has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings.

Astec Industries Stock Down 1.9 %

ASTE traded down $0.58 during trading on Monday, hitting $30.40. The company had a trading volume of 153,870 shares, compared to its average volume of 183,565. The company has a market cap of $693.12 million, a PE ratio of -379.95 and a beta of 1.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.47 and a quick ratio of 0.91. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The business has a 50-day moving average of $33.62 and a 200-day moving average of $33.66.

Analyst Ratings Changes

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

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.