Insteel Industries, Inc. (NASDAQ:IIIN) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Zacks has also given Insteel Industries an industry rank of 28 out of 265 based on the ratings given to its competitors.

Several analysts have issued reports on the stock. TheStreet lowered shares of Insteel Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Longbow Research lowered shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th. Finally, BidaskClub lowered shares of Insteel Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd.

Insteel Industries (NASDAQ IIIN) traded up $0.42 during midday trading on Thursday, reaching $25.68. 384,400 shares of the company’s stock traded hands, compared to its average volume of 154,668. Insteel Industries has a 1 year low of $23.20 and a 1 year high of $42.81. The company has a market capitalization of $480.98, a price-to-earnings ratio of 21.41 and a beta of 2.10.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The firm had revenue of $96.89 million for the quarter, compared to the consensus estimate of $96.25 million. During the same period last year, the company posted $0.51 earnings per share. The business’s revenue was down 6.0% compared to the same quarter last year.

The company also recently declared a special dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be given a dividend of $1.00 per share. This represents a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Insteel Industries’s dividend payout ratio (DPR) is currently 10.17%.

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In other Insteel Industries news, VP James F. Petelle sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $27.11, for a total transaction of $27,110.00. Following the sale, the vice president now directly owns 14,788 shares of the company’s stock, valued at $400,902.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund increased its holdings in shares of Insteel Industries by 1.1% in the second quarter. Texas Permanent School Fund now owns 12,779 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 134 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Insteel Industries by 3.2% in the second quarter. Advisory Services Network LLC now owns 5,895 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 181 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Insteel Industries by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 14,653 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 847 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Insteel Industries by 8.1% in the second quarter. Victory Capital Management Inc. now owns 11,884 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 886 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Insteel Industries by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 76,572 shares of the industrial products company’s stock valued at $2,525,000 after purchasing an additional 987 shares during the last quarter. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

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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