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

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, February 23rd. Stockholders of record on Monday, March 9th will be given a dividend of 0.13 per share by the industrial products company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 9th.

Astec Industries has raised its dividend by an average of 0.0%per year over the last three years. Astec Industries has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings.

Astec Industries Stock Up 1.4%

Shares of NASDAQ:ASTE traded up $0.81 during trading on Tuesday, reaching $58.71. 4,892 shares of the stock were exchanged, compared to its average volume of 177,366. Astec Industries has a 1-year low of $29.65 and a 1-year high of $59.99. The stock has a fifty day moving average of $50.14 and a two-hundred day moving average of $47.42. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.58 and a quick ratio of 1.01. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ASTE shares. Wall Street Zen cut shares of Astec Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Astec Industries in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Astec Industries currently has an average rating of “Hold” and a consensus target price of $41.00.

Astec Industries Company Profile

Astec Industries, Inc is a designer and manufacturer of specialized equipment for infrastructure-related markets. Headquartered in Chattanooga, Tennessee, the company develops, engineers and produces machinery for asphalt road-building, aggregate processing, concrete production, underground mining, landscaping and utility installation. Astec’s product portfolio includes asphalt plants, portable crushers, conveyors, screening plants, mixers, continuous miners and related support equipment.

Organized into multiple operating segments—Roadbuilding; Aggregate & Mining; Energy; and Pavement Preservation & Maintenance—Astec Industries serves contractors and municipalities that build and maintain transportation, energy and utility networks.