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

Key Points

• Insteel Industries, Inc. has declared a quarterly dividend of $0.03 per share, payable on September 26th to shareholders on record as of September 12th.
• The company's payout ratio is 4.0%, indicating that the dividend is well-covered by earnings, with expected earnings of $2.98 per share next year.
• Insteel Industries reported an earnings per share (EPS) of $0.78 for the last quarter, exceeding analysts' expectations by $0.09, with year-over-year revenue growth of 23.4%.

Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) declared a quarterly dividend on Tuesday, August 19th, RTT News reports. Shareholders of record on Friday, September 12th will be paid a dividend of 0.03 per share by the industrial products company on Friday, September 26th. This represents a c) annualized dividend and a yield of 0.3%.

Insteel Industries has a payout ratio of 4.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.1%

IIIN traded up $0.3990 during trading on Tuesday, hitting $37.0790. The company's stock had a trading volume of 119,682 shares, compared to its average volume of 160,288. Insteel Industries has a twelve month low of $22.49 and a twelve month high of $41.64. The stock's fifty day moving average price is $36.83 and its 200-day moving average price is $32.78. The firm has a market capitalization of $719.70 million, a P/E ratio of 37.45, a PEG ratio of 1.81 and a beta of 0.74.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.09. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.During the same period last year, the firm earned $0.34 EPS. The business's revenue was up 23.4% compared to the same quarter last year. Equities research analysts expect that Insteel Industries will post 1.38 EPS for the current fiscal year.

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.

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