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

Insteel Industries, Inc. (NYSE:IIIN) announced a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, June 12th will be given a dividend of 0.03 per share on Friday, June 26th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, June 12th.

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% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Insteel Industries to earn $2.31 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 Price Performance

Shares of NYSE:IIIN traded up $0.07 during midday trading on Wednesday, hitting $26.33. The company had a trading volume of 44,788 shares, compared to its average volume of 189,499. The company has a market cap of $511.57 million, a price-to-earnings ratio of 12.08, a PEG ratio of 1.70 and a beta of 0.53. Insteel Industries has a 12-month low of $24.35 and a 12-month high of $41.64. The company has a fifty day moving average of $31.24 and a two-hundred day moving average of $32.45.

Insteel Industries (NYSE:IIIN) last posted its quarterly earnings data on Thursday, April 16th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.53). The company had revenue of $172.65 million during the quarter. Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.Insteel Industries’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Research analysts expect that Insteel Industries will post 1.32 earnings per share for the current fiscal year.

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.