Insteel Industries (NASDAQ:IIIN) Earning Somewhat Favorable Press Coverage, Accern Reports
Press coverage about Insteel Industries (NASDAQ:IIIN) has trended somewhat positive on Saturday, Accern Sentiment reports. Accern ranks the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Insteel Industries earned a daily sentiment score of 0.04 on Accern’s scale. Accern also gave media stories about the industrial products company an impact score of 47.9884608891253 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Insteel Industries (NASDAQ:IIIN) traded down 0.42% on Friday, hitting $26.25. The stock had a trading volume of 58,843 shares. The company has a market cap of $499.41 million, a P/E ratio of 17.62 and a beta of 2.11. Insteel Industries has a 52-week low of $22.50 and a 52-week high of $42.81. The stock’s 50-day moving average is $29.92 and its 200-day moving average is $33.51.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, July 20th. The industrial products company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.20. Insteel Industries had a net margin of 7.24% and a return on equity of 13.30%. The business had revenue of $96.90 million for the quarter, compared to the consensus estimate of $122.39 million. During the same period in the prior year, the business posted $0.71 EPS. Insteel Industries’s revenue for the quarter was down 16.2% on a year-over-year basis. Analysts expect that Insteel Industries will post $1.38 earnings per share for the current year.
Separately, BidaskClub raised Insteel Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.
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In related news, VP Richard Wagner sold 10,732 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.62, for a total value of $339,345.84. Following the sale, the vice president now owns 27,500 shares in the company, valued at $869,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is owned by company insiders.
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).
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