News articles about Insteel Industries (NASDAQ:IIIN) have trended somewhat negative this week, AlphaOne Sentiment Analysis reports. The research firm, a service of Accern, identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Insteel Industries earned a news impact score of 0.00 on AlphaOne’s scale. AlphaOne also gave headlines about the industrial products company an impact score of 80 out of 100, indicating that recent press coverage is likely to have an impact on the company’s share price in the next few days.
Several research firms have recently issued reports on IIIN. Sidoti assumed coverage on Insteel Industries in a research note on Wednesday, March 22nd. They set a “buy” rating for the company. Longbow Research assumed coverage on Insteel Industries in a research report on Friday, March 10th. They set a “buy” rating for the company.
Insteel Industries (NASDAQ:IIIN) traded up 1.20% during trading on Friday, reaching $32.12. The company’s stock had a trading volume of 123,271 shares. The firm’s 50-day moving average is $34.77 and its 200-day moving average is $35.45. Insteel Industries has a 52-week low of $22.50 and a 52-week high of $42.81. The stock has a market cap of $611.08 million, a P/E ratio of 17.49 and a beta of 2.30.
Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. The firm had revenue of $101.16 million for the quarter, compared to the consensus estimate of $102.46 million. Insteel Industries had a net margin of 8.33% and a return on equity of 16.65%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Equities research analysts forecast that Insteel Industries will post $1.79 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. Insteel Industries’s dividend payout ratio (DPR) is currently 6.56%.
In other news, insider Scot R. Jafroodi sold 5,282 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $37.09, for a total transaction of $195,909.38. Following the transaction, the insider now owns 27,331 shares in the company, valued at $1,013,706.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Wagner sold 12,466 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $38.33, for a total transaction of $477,821.78. Following the transaction, the vice president now owns 68,697 shares in the company, valued at approximately $2,633,156.01. The disclosure for this sale can be found here. Corporate insiders own 5.70% of the company’s stock.
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Insteel Industries Company Profile
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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