Insteel Industries Inc (IIIN) Research Coverage Started at Sidoti

Sidoti initiated coverage on shares of Insteel Industries Inc (NASDAQ:IIIN) in a report published on Wednesday. The firm issued a buy rating on the stock.

Separately, Longbow Research assumed coverage on shares of Insteel Industries in a research report on Friday, March 10th. They issued a buy rating on the stock.

Insteel Industries (NASDAQ:IIIN) opened at 35.02 on Wednesday. Insteel Industries has a one year low of $22.50 and a one year high of $42.81. The firm has a market cap of $664.85 million, a price-to-earnings ratio of 19.27 and a beta of 2.30. The stock’s 50 day moving average is $36.04 and its 200-day moving average is $34.94.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 19th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.13. The firm had revenue of $93.90 million for the quarter, compared to the consensus estimate of $92.50 million. Insteel Industries had a return on equity of 16.65% and a net margin of 8.33%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, equities research analysts expect that Insteel Industries will post $2.04 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Wednesday, March 15th. Insteel Industries’s dividend payout ratio is presently 6.56%.

In other Insteel Industries news, insider Scot R. Jafroodi sold 5,282 shares of the business’s stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Wagner sold 12,466 shares of the business’s stock in a transaction on 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. Insiders sold 20,249 shares of company stock worth $767,043 in the last 90 days. 5.70% of the stock is currently owned by company insiders.

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).

5 Day Chart for NASDAQ:IIIN

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