Astec Industries (NASDAQ:ASTE) Releases Earnings Results

Astec Industries (NASDAQ:ASTE) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31, Briefing.com reports. The company had revenue of $291.40 million for the quarter, compared to analyst estimates of $312.90 million. Astec Industries had a positive return on equity of 6.56% and a negative net margin of 0.18%. Astec Industries’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.01) EPS.

Astec Industries Price Performance

Shares of ASTE stock traded down $0.70 during trading hours on Thursday, hitting $37.36. The company had a trading volume of 85,018 shares, compared to its average volume of 149,609. Astec Industries has a 12 month low of $28.46 and a 12 month high of $44.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.04 and a current ratio of 2.50. The firm’s fifty day moving average is $31.69 and its 200 day moving average is $32.57. The firm has a market capitalization of $851.81 million, a price-to-earnings ratio of -373.06 and a beta of 1.26.

Astec Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, November 13th. Astec Industries’s dividend payout ratio is -519.95%.

Analysts Set New Price Targets

Separately, Robert W. Baird raised their target price on Astec Industries from $36.00 to $40.00 and gave the stock a “neutral” 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.