Insteel Industries, Inc. (IIIN) Releases Earnings Results, Misses Estimates By $0.05 EPS
Insteel Industries, Inc. (NASDAQ:IIIN) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05), MarketWatch Earnings reports. Insteel Industries had a return on equity of 13.30% and a net margin of 7.24%. The firm had revenue of $96.89 million during the quarter, compared to analysts’ expectations of $96.25 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis.
Insteel Industries (IIIN) traded up 8.422% during mid-day trading on Thursday, reaching $29.415. 294,567 shares of the company were exchanged. Insteel Industries has a 1-year low of $22.50 and a 1-year high of $42.81. The firm has a market capitalization of $559.62 million, a P/E ratio of 19.742 and a beta of 2.10. The stock has a 50-day moving average of $25.49 and a 200 day moving average of $29.82.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, September 14th. Insteel Industries’s dividend payout ratio (DPR) is presently 8.05%.
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A number of research firms recently commented on IIIN. BidaskClub cut shares of Insteel Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Longbow Research cut shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th.
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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