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

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

Insteel Industries has increased its dividend payment by an average of 0.6%per year over the last three years. Insteel Industries has a payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

IIIN stock traded down $0.27 during mid-day trading on Wednesday, reaching $32.44. The company had a trading volume of 23,805 shares, compared to its average volume of 246,031. The firm has a fifty day simple moving average of $30.22 and a 200 day simple moving average of $31.29. The company has a market capitalization of $628.04 million, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.70 and a beta of 0.50. Insteel Industries has a fifty-two week low of $24.35 and a fifty-two week high of $39.91.

Insteel Industries (NYSE:IIIN) last announced its quarterly earnings data on Thursday, July 16th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, analysts predict that Insteel Industries will post 1.59 earnings per share for the current year.

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.