Insteel Industries, Inc. (NASDAQ:IIIN) will begin trading ex-dividend on September 10, 2020. The quarterly dividend payment of $ 0.03 per share is scheduled to be paid on September 25, 2020. The dividend yield based on the latest trading day closing price was 0.67 %. Owners of shares, purchased before the ex-dividend date will be eligible for the dividend.
Dividends History
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Insteel Industries, Inc. recently reported third quarter financial results on July 16, 2020, before market open, the Mount Airy based company revealed income for the third quarter of $ 0.34 per share, from the revenue of $ 121.96 million. The quarterly earnings hiked 209.09 percent while revenues reduced 3.40 percent compared with the same quarter last year.
According to street consensus, IIIN was expected to report 3Q20 income of $ 0.17 per share from revenue of $ 115.45 million. The bottom line results beat street analysts by $ 0.17 or 100.00 percent, at the same time, top line results outshined analysts by $ 6.51 million or 5.64 percent.
Stock Performance
Shares of Insteel Industries, Inc. traded up $ 0.01 or 0.06 percent on Tuesday, reaching $ 18.01 with volume of 63.90 thousand shares. Insteel Industries, Inc. has traded high as $ 18.38 and has cracked $ 17.22 on the downward trend
According to the previous trading day, closing price of $ 18.01, representing a 80.00 % increase from the 52 week low of $ 10.00 and a 32.36 % decrease over the 52 week high of $ 26.61.
The company has a market capital of $ 346.89 million and is part of the Industrials sector and Metal Fabrication industry.
Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed 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.
