Insteel Industries, Inc. Declares Quarterly Dividend of $0.03 (NASDAQ:IIIN)

Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.03 per share by the industrial products company on Friday, March 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, March 14th.

Insteel Industries has a dividend payout ratio of 4.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Insteel Industries to earn $2.81 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 4.3%.

Insteel Industries Stock Performance

Shares of Insteel Industries stock traded up $0.33 during trading on Friday, reaching $31.20. 153,908 shares of the company's stock were exchanged, compared to its average volume of 200,257. Insteel Industries has a 1-year low of $23.60 and a 1-year high of $38.40. The company has a market cap of $606.27 million, a P/E ratio of 31.52, a PEG ratio of 1.77 and a beta of 1.14. The firm's 50-day moving average price is $27.97 and its 200 day moving average price is $29.66.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The business had revenue of $129.70 million for the quarter, compared to analyst estimates of $117.45 million. During the same period last year, the firm posted $0.06 EPS. Insteel Industries's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Insteel Industries will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Insteel Industries from a "buy" rating to a "hold" rating in a report on Saturday, October 26th.

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 prestressed 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.