Astec Industries said on April 26, 2023 that its board of directors declared a regular quarterly dividend of $0.13 per share ($0.52 annualized). Previously, the company paid $0.13 per share.
Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend. Shareholders of record as of May 12, 2023 will receive the payment on May 30, 2023.
At the current share price of $40.11 / share, the stock's dividend yield is 1.30%. Looking back five years and taking a sample every week, the average dividend yield has been 1.02%, the lowest has been 0.56%, and the highest has been 1.63%. The standard deviation of yields is 0.28 (n=236).
The current dividend yield is 1.01 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -117.77. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.18%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 418 funds or institutions reporting positions in Astec Industries. This is a decrease of 9 owner(s) or 2.11% in the last quarter. Average portfolio weight of all funds dedicated to ASTE is 0.13%, an increase of 13.90%. Total shares owned by institutions decreased in the last three months by 8.96% to 17,658K shares. The put/call ratio of ASTE is 22.80, indicating a bearish outlook.
Analyst Price Forecast Suggests 33.08% Upside
As of April 24, 2023, the average one-year price target for Astec Industries is 53.38. The forecasts range from a low of 45.45 to a high of $60.90. The average price target represents an increase of 33.08% from its latest reported closing price of 40.11.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Astec Industries is 1,371MM, an increase of 7.57%. The projected annual non-GAAP EPS is 2.28.
What are Other Shareholders Doing?
Victory Capital Management holds 1,777K shares representing 7.85% ownership of the company. In it's prior filing, the firm reported owning 1,423K shares, representing an increase of 19.95%. The firm increased its portfolio allocation in ASTE by 0.13% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 1,683K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 1,677K shares, representing an increase of 0.38%. The firm increased its portfolio allocation in ASTE by 19.04% over the last quarter.
SSGSX - Victory Sycamore Small Company Opportunity Fund holds 1,325K shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 1,065K shares, representing an increase of 19.62%. The firm increased its portfolio allocation in ASTE by 43.47% over the last quarter.
Gamco Investors, Inc. Et Al holds 1,026K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 1,028K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in ASTE by 18.82% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 585K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 580K shares, representing an increase of 0.90%. The firm increased its portfolio allocation in ASTE by 21.78% over the last quarter.
Astec Industries Background Information
(This description is provided by the company.)
Astec Industries, Inc., is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plant, thermal and storage solutions; and Materials Solutions that include its aggregate processing equipment.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.