Insteel Industries, Inc. (IIIN) To Go Ex-Dividend on March 14th

Insteel Industries, Inc. (NASDAQ:IIIN) declared a quarterly dividend on Tuesday, February 11th,RTT News reports. Investors 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 yield of 0.39%. The ex-dividend date is Friday, March 14th.

Insteel Industries has a payout ratio of 4.3% indicating that its dividend is sufficiently covered by earnings. 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 Down 3.1 %

IIIN stock opened at $30.47 on Thursday. The company has a market capitalization of $591.93 million, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.77 and a beta of 1.14. The firm has a 50 day moving average of $27.91 and a two-hundred day moving average of $29.70. Insteel Industries has a 12 month low of $23.60 and a 12 month high of $38.40.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate 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 in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts expect that Insteel Industries will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Insteel Industries

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.