Insteel Industries Inc to Issue Quarterly Dividend of $0.03 (IIIN)

Insteel Industries Inc (NASDAQ:IIIN) declared a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Shareholders of record on Friday, March 16th will be given a dividend of 0.03 per share by the industrial products company on Friday, March 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, March 15th.

Insteel Industries (NASDAQ:IIIN) traded down $0.29 during midday trading on Wednesday, reaching $29.69. 71,300 shares of the company’s stock were exchanged, compared to its average volume of 143,438. The firm has a market capitalization of $570.85, a price-to-earnings ratio of 21.67 and a beta of 2.01. Insteel Industries has a one year low of $23.20 and a one year high of $38.69.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). The business had revenue of $97.74 million during the quarter, compared to analyst estimates of $94.90 million. Insteel Industries had a net margin of 6.67% and a return on equity of 10.13%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share.

A number of research analysts have recently issued reports on IIIN shares. Sidoti started coverage on shares of Insteel Industries in a research note on Monday, December 18th. They set a “buy” rating and a $34.00 price target on the stock. BidaskClub upgraded shares of Insteel Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 23rd. Finally, TheStreet lowered shares of Insteel Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th.

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About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

Dividend History for Insteel Industries (NASDAQ:IIIN)

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