Insteel Industries, Inc. (IIIN) Announces $0.03 Quarterly Dividend
Insteel Industries, Inc. (NASDAQ:IIIN) announced a quarterly dividend on Tuesday, August 15th, Zacks reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.03 per share by the industrial products company on Friday, September 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 14th.
Insteel Industries (NASDAQ IIIN) traded up 1.17% during mid-day trading on Wednesday, hitting $25.85. 19,882 shares of the stock were exchanged. Insteel Industries has a 52-week low of $22.50 and a 52-week high of $42.81. The stock’s 50 day moving average is $29.56 and its 200 day moving average is $33.31. The stock has a market cap of $491.80 million, a PE ratio of 17.35 and a beta of 2.11.
Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.20. The company had revenue of $96.90 million for the quarter, compared to analysts’ expectations of $122.39 million. Insteel Industries had a net margin of 7.24% and a return on equity of 13.30%. The business’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. Analysts forecast that Insteel Industries will post $1.38 EPS for the current fiscal year.
In other news, VP Richard Wagner sold 20,465 shares of the stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $31.99, for a total value of $654,675.35. Following the completion of the sale, the vice president now directly owns 48,464 shares in the company, valued at $1,550,363.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.70% of the stock is owned by corporate insiders.
Separately, BidaskClub upgraded shares of Insteel Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.
Insteel Industries Company Profile
Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
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