Insteel Industries, Inc. (NYSE:IIIN) to Issue $0.03 Quarterly Dividend

Insteel Industries, Inc. (NYSE:IIIN) declared a quarterly dividend on Tuesday, August 11th. Shareholders of record on Friday, September 11th will be given a dividend of 0.03 per share on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, September 11th.

Insteel Industries has increased its dividend by an average of 0.6%annually 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 $2.42 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 5.0%.

Insteel Industries Price Performance

Shares of Insteel Industries stock traded down $0.32 during trading hours on Wednesday, hitting $32.39. The company’s stock had a trading volume of 19,541 shares, compared to its average volume of 246,012. Insteel Industries has a 12 month low of $24.35 and a 12 month high of $39.91. The stock has a 50 day moving average of $30.22 and a 200 day moving average of $31.29. The company has a market capitalization of $627.03 million, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50.

Insteel Industries (NYSE:IIIN) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Insteel Industries had a return on equity of 9.92% and a net margin of 5.14%.The business had revenue of $197.66 million for the quarter. During the same quarter last year, the firm earned $0.78 EPS. Equities analysts expect that Insteel Industries will post 1.59 EPS for the current year.

Analyst Ratings Changes

IIIN has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Insteel Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Insteel Industries Company Profile

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.