Insteel Industries, Inc. (IIIN) To Go Ex-Dividend on November 29th

Insteel Industries, Inc. (NASDAQ:IIIN) declared a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.03 per share by the industrial products company on Friday, December 13th. This represents a $0.12 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Friday, November 29th.

Insteel Industries has a payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of Insteel Industries stock opened at $30.52 on Wednesday. The firm has a market capitalization of $593.61 million, a price-to-earnings ratio of 31.26, a PEG ratio of 2.32 and a beta of 1.12. Insteel Industries has a fifty-two week low of $26.74 and a fifty-two week high of $39.38. The stock has a 50 day moving average of $29.55 and a 200 day moving average of $31.08.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $140.40 million. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. Analysts forecast that Insteel Industries will post 1.11 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.