Insteel Industries, Inc. (IIIN) To Go Ex-Dividend on March 13th

Insteel Industries, Inc. (NASDAQ:IIIN) announced a quarterly dividend on Tuesday, February 10th. Investors of record on Friday, March 13th will be paid a dividend of 0.03 per share by the industrial products company on Friday, March 27th. This represents a c) dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, March 13th.

Insteel Industries has increased its dividend by an average of 0.6%per year over the last three years. Insteel Industries has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Insteel Industries to earn $2.98 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 4.0%.

Insteel Industries Trading Up 0.3%

IIIN stock opened at $37.10 on Thursday. The stock has a market cap of $719.49 million, a P/E ratio of 37.47, a P/E/G ratio of 1.81 and a beta of 0.84. The stock’s fifty day simple moving average is $33.25 and its two-hundred day simple moving average is $34.54. Insteel Industries has a 1-year low of $22.49 and a 1-year high of $41.64.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings results on Thursday, January 15th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. As a group, analysts forecast that Insteel Industries will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.