Sidoti Forecasts Insteel Industries’ Q3 Earnings (NYSE:IIIN)

Insteel Industries, Inc. (NYSE:IIIN) – Sidoti decreased their Q3 2027 EPS estimates for shares of Insteel Industries in a report issued on Friday, October 23rd. Sidoti analyst J. Romero now expects that the company will post earnings of $0.67 per share for the quarter, down from their prior estimate of $0.79. The consensus estimate for Insteel Industries’ current full-year earnings is $1.87 per share. Sidoti also issued estimates for Insteel Industries’ Q4 2027 earnings at $0.71 EPS, Q1 2028 earnings at $0.29 EPS, Q2 2028 earnings at $0.49 EPS, Q3 2028 earnings at $0.76 EPS and Q4 2028 earnings at $0.79 EPS.

Other analysts have also recently issued reports about the company. Weiss Ratings raised Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Zacks Research lowered Insteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Finally, Wall Street Zen upgraded Insteel Industries from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has an average rating of “Hold”.

Insteel Industries Price Performance

IIIN stock opened at $28.29 on Monday. Insteel Industries has a 1 year low of $24.35 and a 1 year high of $38.45. The firm has a 50-day moving average of $29.96 and a 200 day moving average of $31.08.

Insteel Industries (NYSE:IIIN) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.09). The company had revenue of $209.28 million for the quarter. During the same quarter in the previous year, the company earned $0.74 EPS. Insteel Industries’s quarterly revenue was up 18.0% compared to the same quarter last year.

Institutional Investors Weigh In On Insteel Industries

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Insteel Industries in the second quarter worth about $46,014,000. Y Intercept Hong Kong Ltd bought a new position in shares of Insteel Industries during the first quarter valued at approximately $1,369,000. Robotti Robert bought a new position in shares of Insteel Industries during the second quarter valued at approximately $14,421,000. Bank of America Corp DE bought a new position in shares of Insteel Industries during the second quarter valued at approximately $2,353,000. Finally, Icon Advisers Inc. Co. purchased a new position in shares of Insteel Industries during the first quarter valued at approximately $3,126,000. Institutional investors own 83.27% of the company’s stock.

Insider Activity at Insteel Industries

In related news, COO Richard Wagner sold 1,640 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.31, for a total value of $49,708.40. Following the completion of the transaction, the chief operating officer directly owned 40,000 shares in the company, valued at $1,212,400. This trade represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.20% of the company’s stock.

Insteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, September 11th.

About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products used primarily in concrete construction. The company produces welded wire reinforcement and prestressed concrete strand, which help strengthen and reinforce concrete structures.

Its products are used in a range of infrastructure, commercial, residential, and industrial applications, including roads, bridges, buildings, precast concrete products, and other construction projects. Insteel sells its products primarily through a network serving customers across the United States.

Founded in 1953 and headquartered in Mount Airy, North Carolina, Insteel operates manufacturing facilities in the United States.