Insteel Industries, Inc. (IIIN) To Go Ex-Dividend on March 13th

Insteel Industries, Inc. (NASDAQ:IIIN) declared a quarterly dividend on Tuesday, February 10th. Shareholders of record on Friday, March 13th will be given a dividend of 0.03 per share by the industrial products company on Friday, March 27th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th.

Insteel Industries has raised its dividend by an average of 0.6%annually over the last three years. Insteel Industries has a payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. 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 0.1%

Shares of NASDAQ:IIIN opened at $33.21 on Wednesday. The company has a 50-day moving average price of $34.83 and a 200-day moving average price of $34.52. The company has a market cap of $644.14 million, a price-to-earnings ratio of 33.55, a price-to-earnings-growth ratio of 1.81 and a beta of 0.79. Insteel Industries has a 12 month low of $22.49 and a 12 month high of $41.64.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 15th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. As a group, research analysts forecast that Insteel Industries will post 1.38 EPS for the current fiscal year.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.