Insteel Industries, Inc. (NYSE:IIIN) Shareholders to Collect $0.03 Quarterly Dividend

Insteel Industries, Inc. (NYSE:IIIN) declared a quarterly dividend on Tuesday, November 10th. Stockholders of record on Friday, November 27th will be paid a dividend of $0.03 per share on Friday, December 11th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, November 27th.

Insteel Industries has decreased its dividend payment by an average of 0.1% annually over the last three years. Insteel Industries has a dividend payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Insteel Industries to earn $2.33 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 5.2%.

Insteel Industries Stock Up 2.1%

IIIN traded up $0.57 during midday trading on Wednesday, hitting $28.06. 7,332 shares of the company were exchanged, compared to its average volume of 217,986. The firm’s 50 day moving average price is $29.45 and its 200-day moving average price is $30.81. Insteel Industries has a 1-year low of $24.35 and a 1-year high of $38.45. The firm has a market capitalization of $542.96 million, a P/E ratio of 18.48, a P/E/G ratio of 1.24 and a beta of 0.52.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). The company had revenue of $209.28 million for the quarter. Insteel Industries had a return on equity of 8.17% and a net margin of 4.00%. Insteel Industries’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. On average, sell-side analysts predict that Insteel Industries will post 1.87 earnings per share for the current fiscal year.

About Insteel Industries

Insteel Industries, Inc. manufactures steel wire reinforcing products used in concrete construction. Its primary products include welded wire reinforcement and prestressed concrete strand, which help reinforce concrete in applications such as buildings, roads, bridges and other infrastructure. The company sells its products to manufacturers and distributors serving the construction industry. Its operations are based in the United States, with manufacturing facilities located across the country. Founded in 1953, Insteel is headquartered in Mount Airy, North Carolina.