News stories about Insteel Industries (NASDAQ:IIIN) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies positive and negative press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Insteel Industries earned a daily sentiment score of 0.00 on Accern’s scale. Accern also assigned news articles about the industrial products company an impact score of 46.4740527274151 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
Several analysts have issued reports on the stock. TheStreet downgraded shares of Insteel Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. BidaskClub raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Longbow Research downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold”.
Insteel Industries (NASDAQ IIIN) traded down 0.40% during midday trading on Friday, hitting $27.69. 172,702 shares of the company traded hands. Insteel Industries has a 12-month low of $23.20 and a 12-month high of $42.81. The stock’s 50-day moving average price is $25.83 and its 200 day moving average price is $29.52. The company has a market capitalization of $526.80 million, a price-to-earnings ratio of 18.58 and a beta of 2.10.
Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). The company had revenue of $96.89 million for the quarter, compared to analysts’ expectations of $96.25 million. Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities analysts forecast that Insteel Industries will post $1.64 EPS for the current year.
The company also recently declared a special dividend, which will be paid on Friday, January 5th. Investors of record on Wednesday, December 20th will be paid a $1.00 dividend. This represents a yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Insteel Industries’s payout ratio is 10.17%.
In other Insteel Industries news, VP James F. Petelle sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $27.11, for a total transaction of $27,110.00. Following the transaction, the vice president now owns 14,788 shares in the company, valued at approximately $400,902.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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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