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

Astec Industries, Inc. (NASDAQ:ASTE) announced a quarterly dividend on Monday, February 24th, RTT News reports. Investors of record on Monday, March 10th will be paid 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% per year over the last three years. Astec Industries has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings.

Astec Industries Price Performance

NASDAQ ASTE opened at $30.40 on Tuesday. 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 quick ratio of 0.91, a current ratio of 2.47 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $33.50 and its two-hundred day simple moving average is $33.65. Astec Industries has a 52 week low of $28.46 and a 52 week high of $44.74.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Robert W. Baird boosted their price objective on shares of Astec Industries from $36.00 to $40.00 and gave the company a “neutral” rating in a research note 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.