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

Astec Industries, Inc. (NASDAQ:ASTE) declared a quarterly dividend on Monday, February 24th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.71%.

Astec Industries has raised its dividend by an average of 4.9% annually over the last three years. Astec Industries has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings.

Astec Industries Price Performance

ASTE stock traded down $0.58 during trading on Monday, hitting $30.40. The company had a trading volume of 153,870 shares, compared to its average volume of 183,565. The business has a 50 day moving average of $33.62 and a 200 day moving average of $33.66. The firm has a market capitalization of $693.12 million, a price-to-earnings ratio of -379.95 and a beta of 1.31. The company has a current ratio of 2.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Astec Industries has a fifty-two week low of $28.46 and a fifty-two week high of $44.74.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ASTE shares. Robert W. Baird boosted their price target on shares of Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday.

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.