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

Insteel Industries, Inc. (NASDAQ:IIIN) announced a quarterly dividend on Tuesday, February 11th, RTT News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.03 per share by the industrial products company on Friday, March 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, March 14th.

Insteel Industries has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Insteel Industries to earn $2.98 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 4.0%.

Insteel Industries Trading Down 2.4 %

Shares of Insteel Industries stock opened at $27.02 on Wednesday. Insteel Industries has a 12 month low of $23.60 and a 12 month high of $38.40. The stock’s fifty day moving average price is $27.89 and its 200-day moving average price is $29.20. The firm has a market cap of $524.93 million, a P/E ratio of 27.29, a P/E/G ratio of 1.81 and a beta of 1.13.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The business had revenue of $129.70 million during the quarter, compared to the consensus estimate of $117.45 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Analysts forecast that Insteel Industries will post 1.38 earnings per share for the current year.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.