Insteel Industries Inc (IIIN) Plans Quarterly Dividend of $0.03

Insteel Industries Inc (NASDAQ:IIIN) declared a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Investors 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 dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, March 15th.

Insteel Industries (IIIN) opened at $29.94 on Thursday. Insteel Industries has a 1 year low of $23.20 and a 1 year high of $38.69. The firm has a market capitalization of $565.33, a price-to-earnings ratio of 21.85 and a beta of 2.01.

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

IIIN has been the subject of a number of research reports. TheStreet upgraded Insteel Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, January 17th. BidaskClub lowered Insteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Finally, Sidoti initiated coverage on Insteel Industries in a research report on Monday, December 18th. They set a “buy” rating and a $34.00 price objective for the company.

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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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