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

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

Insteel Industries has increased its dividend payment 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. Equities research 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 IIIN stock traded down $0.32 on Wednesday, reaching $32.39. 19,541 shares of the stock were exchanged, compared to its average volume of 246,012. Insteel Industries has a one year low of $24.35 and a one year high of $39.91. The stock has a market cap of $627.03 million, a PE ratio of 17.41, a P/E/G ratio of 1.70 and a beta of 0.50. The stock has a 50 day moving average price of $30.22 and a 200 day moving average price of $31.29.

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