Astec Industries (NASDAQ:ASTE) Announces Quarterly Earnings Results

Astec Industries (NASDAQ:ASTE - Get Free Report) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.31 earnings per share for the quarter, meeting the consensus estimate 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 firm had revenue of $291.40 million for the quarter, compared to analysts' expectations of $312.90 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The company's revenue was down 3.9% on a year-over-year basis.

Astec Industries Price Performance

Shares of NASDAQ ASTE traded down $0.93 during midday trading on Thursday, hitting $37.13. 194,152 shares of the company's stock were exchanged, compared to its average volume of 131,098. The business's fifty day moving average price is $31.75 and its two-hundred day moving average price is $32.60. The company has a quick ratio of 1.04, a current ratio of 2.50 and a debt-to-equity ratio of 0.20. Astec Industries has a 12-month low of $28.46 and a 12-month 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 given a dividend of $0.13 per share. The ex-dividend date of this dividend 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 raised their price target on shares of Astec Industries from $36.00 to $40.00 and gave the company 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.