Insteel Industries, Inc. (IIIN) to Distribute Quarterly Dividend of $0.03 on September 25th

Insteel Industries, Inc. (NYSE:IIIN) declared a quarterly dividend on Tuesday, August 11th. Investors 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 11th.

Insteel Industries has raised its dividend 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 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 Trading Up 0.4%

Shares of NYSE IIIN opened at $32.85 on Thursday. Insteel Industries has a 12 month low of $24.35 and a 12 month high of $39.91. The stock has a market cap of $635.91 million, a price-to-earnings ratio of 17.66, a PEG ratio of 1.71 and a beta of 0.50. The company has a 50 day simple moving average of $30.31 and a two-hundred day simple moving average of $31.28.

Insteel Industries (NYSE:IIIN) last issued 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. The business had revenue of $197.66 million for the quarter. Insteel Industries had a net margin of 5.14% and a return on equity of 9.92%. During the same period in the previous year, the business earned $0.78 EPS. Analysts forecast that Insteel Industries will post 1.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IIIN shares. Zacks Research raised Insteel Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Wall Street Zen raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Weiss Ratings upgraded shares of Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Insteel Industries has an average rating of “Buy”.

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.