Astec Industries (NASDAQ:ASTE) Posts Quarterly Earnings Results

Astec Industries (NASDAQ:ASTE) posted its earnings results on Wednesday. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.11), Briefing.com reports. The company had revenue of $345.50 million for the quarter, compared to analysts’ expectations of $332.35 million. Astec Industries had a return on equity of 7.44% and a net margin of 1.91%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS.

Astec Industries Price Performance

Shares of ASTE stock traded up $0.04 on Friday, reaching $31.78. The company’s stock had a trading volume of 93,614 shares, compared to its average volume of 152,059. The company has a quick ratio of 0.95, a current ratio of 2.51 and a debt-to-equity ratio of 0.19. Astec Industries has a 12-month low of $28.46 and a 12-month high of $56.33. The company has a market capitalization of $723.47 million, a P/E ratio of 29.16 and a beta of 1.30. The stock’s 50 day simple moving average is $31.47 and its 200-day simple moving average is $35.85.

Astec Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. Astec Industries’s dividend payout ratio (DPR) is presently 47.71%.

Wall Street Analysts Forecast Growth

ASTE has been the topic of several recent research reports. StockNews.com downgraded Astec Industries from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Stifel Nicolaus downgraded Astec Industries from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $47.00 to $37.00 in a research report on Thursday, May 2nd.

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.