Insteel Industries, Inc. (IIIN) To Go Ex-Dividend on June 12th

Insteel Industries, Inc. (NYSE:IIIN) announced a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, June 12th will be given a dividend of 0.03 per share on Friday, June 26th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, June 12th.

Insteel Industries has increased its dividend by an average of 0.6%per year over the last three years. Insteel Industries has a dividend payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Insteel Industries to earn $2.31 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 5.2%.

Insteel Industries Price Performance

Shares of Insteel Industries stock opened at $28.24 on Wednesday. The business has a 50 day simple moving average of $28.81 and a two-hundred day simple moving average of $31.87. Insteel Industries has a 12 month low of $24.35 and a 12 month high of $41.64. The stock has a market capitalization of $548.61 million, a P/E ratio of 12.95, a PEG ratio of 1.77 and a beta of 0.53.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings results on Thursday, April 16th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.53). Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.The firm had revenue of $172.65 million for the quarter. During the same period last year, the firm earned $0.52 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Insteel Industries will post 1.32 EPS for the current fiscal year.

Institutional Trading of Insteel Industries

Several hedge funds have recently modified their holdings of IIIN. Advisory Services Network LLC purchased a new position in Insteel Industries in the 3rd quarter valued at approximately $26,000. BNP Paribas Financial Markets boosted its holdings in shares of Insteel Industries by 74.3% during the second quarter. BNP Paribas Financial Markets now owns 2,248 shares of the company’s stock worth $84,000 after purchasing an additional 958 shares during the last quarter. Quarry LP acquired a new stake in shares of Insteel Industries during the third quarter worth $89,000. Smartleaf Asset Management LLC boosted its holdings in shares of Insteel Industries by 30.2% during the second quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the company’s stock worth $95,000 after purchasing an additional 583 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Insteel Industries by 372.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,283 shares of the company’s stock valued at $122,000 after acquiring an additional 2,588 shares during the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

About Insteel Industries

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.