Insteel Industries Inc. (IIIN) Stock Rating Lowered by Sidoti
Insteel Industries (NASDAQ:IIIN) opened at 39.57 on Tuesday. The firm has a 50-day moving average price of $31.45 and a 200 day moving average price of $31.67. Insteel Industries has a 1-year low of $18.72 and a 1-year high of $42.81. The stock has a market cap of $750.84 million, a price-to-earnings ratio of 20.29 and a beta of 2.17.
Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.10. The business had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $125.11 million. Insteel Industries had a return on equity of 18.03% and a net margin of 8.90%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that Insteel Industries will post $2.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Wednesday, December 14th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, December 12th. Insteel Industries’s dividend payout ratio is presently 6.12%.
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In other news, VP James F. Petelle sold 1,902 shares of the stock in a transaction on Tuesday, November 29th. The stock was sold at an average price of $40.68, for a total transaction of $77,373.36. Following the completion of the transaction, the vice president now directly owns 19,332 shares in the company, valued at approximately $786,425.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael C. Gazmarian sold 9,488 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $33.37, for a total value of $316,614.56. Following the transaction, the vice president now owns 73,684 shares of the company’s stock, valued at $2,458,835.08. The disclosure for this sale can be found here. Insiders own 9.80% of the company’s stock.
About Insteel Industries
Insteel Industries, Inc (Insteel) is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets PC strand and welded wire reinforcement (WWR), including Engineered Structural Mesh (ESM), concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR).
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