Astec Industries (NASDAQ:ASTE) Announces Quarterly Earnings Results

Astec Industries (NASDAQ:ASTE) released its quarterly earnings results on Wednesday. The industrial products company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.46, Zacks reports. The company had revenue of $359.00 million during the quarter, compared to analysts’ expectations of $374.10 million. Astec Industries had a positive return on equity of 7.69% and a negative net margin of 0.15%.

Astec Industries Trading Up 0.5 %

ASTE stock traded up $0.18 during midday trading on Friday, reaching $36.03. 6,198 shares of the company’s stock traded hands, compared to its average volume of 191,862. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74. The business has a 50-day moving average price of $33.46 and a two-hundred day moving average price of $33.67. The company has a market capitalization of $821.62 million, a P/E ratio of -451.46 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.13 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.52 annualized dividend and a yield of 1.44%. Astec Industries’s payout ratio is -650.00%.

Analysts Set New Price Targets

ASTE has been the topic of a number of recent research reports. StockNews.com upgraded shares of Astec Industries from a “hold” rating to a “strong-buy” rating in a report on Friday. Robert W. Baird raised their target price on shares of Astec Industries from $40.00 to $41.00 and gave the stock a “neutral” rating in a research 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.