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

Insteel Industries, Inc. (NYSE:IIIN) announced a quarterly dividend on Tuesday, August 11th. Stockholders 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 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. 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 Down 1.9%

Insteel Industries stock opened at $30.68 on Wednesday. Insteel Industries has a 52 week low of $24.35 and a 52 week high of $39.91. The stock has a market cap of $593.96 million, a PE ratio of 16.49, a P/E/G ratio of 1.64 and a beta of 0.51. The stock has a 50-day moving average price of $31.03 and a 200 day moving average price of $30.69.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings results 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 during the quarter. Insteel Industries had a net margin of 5.14% and a return on equity of 9.92%. During the same quarter last year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Insteel Industries will post 1.59 EPS for the current year.

Insider Buying and Selling at Insteel Industries

In other news, COO Richard Wagner sold 1,640 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.31, for a total transaction of $49,708.40. Following the completion of the sale, the chief operating officer owned 40,000 shares in the company, valued at approximately $1,212,400. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of Insteel Industries by 12.4% in the first quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock worth $4,101,000 after acquiring an additional 17,168 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Insteel Industries during the 1st quarter worth $225,000. Quantbot Technologies LP purchased a new stake in Insteel Industries during the 2nd quarter worth $220,000. Arrowstreet Capital Limited Partnership increased its holdings in Insteel Industries by 28.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock valued at $4,602,000 after purchasing an additional 27,702 shares in the last quarter. Finally, Jump Financial LLC raised its position in Insteel Industries by 94.3% in the second quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock valued at $646,000 after purchasing an additional 8,429 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

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.