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

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

Astec Industries Stock Performance

Shares of Astec Industries stock traded down $0.70 during midday trading on Thursday, hitting $37.36. The company had a trading volume of 85,018 shares, compared to its average volume of 149,609. Astec Industries has a 1-year low of $28.46 and a 1-year high of $44.74. The business’s 50 day simple moving average is $31.69 and its two-hundred day simple moving average is $32.57. The stock has a market cap of $851.81 million, a PE ratio of -373.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.50 and a quick ratio of 1.04.

Astec Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.13 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.39%. Astec Industries’s dividend payout ratio is -519.95%.

Analyst Ratings Changes

Separately, Robert W. Baird lifted 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.

Astec Industries Company Profile

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.