Insteel Industries Inc (IIIN) Announces $0.03 Quarterly Dividend
Insteel Industries Inc (NASDAQ:IIIN) announced a quarterly dividend on Thursday, November 15th, Wall Street Journal reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.03 per share by the industrial products company on Friday, January 4th. This represents a $0.12 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Thursday, December 13th.
Shares of NASDAQ IIIN opened at $25.56 on Friday. Insteel Industries has a fifty-two week low of $25.23 and a fifty-two week high of $43.78. The company has a market cap of $495.75 million, a price-to-earnings ratio of 15.44 and a beta of 2.39.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 18th. The industrial products company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.07). Insteel Industries had a net margin of 8.00% and a return on equity of 14.20%. The business had revenue of $121.40 million for the quarter, compared to the consensus estimate of $130.38 million. During the same period in the prior year, the business posted $0.20 EPS. Insteel Industries’s revenue for the quarter was up 25.3% on a year-over-year basis.
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Insteel Industries Company Profile
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
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