Insteel Industries Inc. (NASDAQ:IIIN) announced its earnings results on Thursday. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.13. Insteel Industries had a net margin of 8.90% and a return on equity of 18.03%. The company had revenue of $93.90 million for the quarter, compared to analyst estimates of $92.50 million. During the same quarter last year, the company posted $0.36 EPS. Insteel Industries’s quarterly revenue was up 1.6% compared to the same quarter last year.
Shares of Insteel Industries (NASDAQ:IIIN) opened at 34.88 on Thursday. The stock’s 50 day moving average price is $36.76 and its 200 day moving average price is $34.00. The firm has a market cap of $661.85 million, a PE ratio of 17.89 and a beta of 2.34. Insteel Industries has a 12-month low of $19.00 and a 12-month high of $42.81.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Wednesday, December 14th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, December 12th. Insteel Industries’s dividend payout ratio (DPR) is 6.12%.
Separately, Sidoti cut Insteel Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, November 29th.
In related news, Director Gary L. Pechota sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $40.78, for a total transaction of $81,560.00. Following the sale, the director now owns 44,929 shares of the company’s stock, valued at $1,832,204.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Charles B. Newsome sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $38.82, for a total value of $38,820.00. Following the sale, the director now directly owns 71,905 shares in the company, valued at approximately $2,791,352.10. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
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).