Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) announced a quarterly dividend on Tuesday, May 21st, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.03 per share by the industrial products company on Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, June 14th.
Insteel Industries Price Performance
Shares of Insteel Industries stock traded down $0.23 on Wednesday, hitting $31.98. 91,061 shares of the company's stock traded hands, compared to its average volume of 86,316. The firm's 50-day moving average price is $34.57 and its two-hundred day moving average price is $34.94. The stock has a market capitalization of $622.97 million, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.18. Insteel Industries has a one year low of $26.86 and a one year high of $39.38.
Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.22 by $0.13. The company had revenue of $127.40 million during the quarter, compared to analysts' expectations of $134.89 million. Insteel Industries had a net margin of 4.24% and a return on equity of 6.78%. The business's revenue for the quarter was down 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS. On average, analysts forecast that Insteel Industries will post 1.55 earnings per share for the current fiscal year.
Insider Buying and Selling at Insteel Industries
In other news, COO Richard Wagner sold 1,715 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.14, for a total value of $61,980.10. Following the completion of the transaction, the chief operating officer now owns 40,952 shares of the company's stock, valued at approximately $1,480,005.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.60% of the company's stock.
About Insteel Industries
(
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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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