Astec Industries (NASDAQ:ASTE) Announces Quarterly Earnings Results

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

Astec Industries Stock Performance

Astec Industries stock traded down $0.84 during mid-day trading on Thursday, reaching $37.22. The company had a trading volume of 74,739 shares, compared to its average volume of 149,562. The company has a quick ratio of 1.04, a current ratio of 2.50 and a debt-to-equity ratio of 0.20. The firm has a market cap of $848.62 million, a price-to-earnings ratio of -373.06 and a beta of 1.26. The company has a 50 day moving average of $31.69 and a 200-day moving average of $32.57. Astec Industries has a 52 week low of $28.46 and a 52 week high of $44.74.

Astec Industries Announces Dividend

The firm 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. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. Astec Industries’s dividend payout ratio (DPR) is presently -519.95%.

Analysts Set New Price Targets

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.