Insteel Industries, Inc. (NASDAQ:IIIN) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Insteel Industries’ rating score has declined by 100% in the last 90 days as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 1 year consensus price target of $44.00 for the company, according to Zacks. Zacks has also given Insteel Industries an industry rank of 108 out of 265 based on the ratings given to its competitors.
Several analysts have recently issued reports on IIIN shares. BidaskClub raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Longbow Research cut shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its position in Insteel Industries by 18.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 38,350 shares of the industrial products company’s stock worth $1,264,000 after purchasing an additional 5,854 shares during the period. Franklin Resources Inc. boosted its position in Insteel Industries by 42.9% during the 2nd quarter. Franklin Resources Inc. now owns 705,500 shares of the industrial products company’s stock worth $23,260,000 after purchasing an additional 211,900 shares during the period. Epoch Investment Partners Inc. boosted its position in Insteel Industries by 2.4% during the 2nd quarter. Epoch Investment Partners Inc. now owns 515,569 shares of the industrial products company’s stock worth $16,998,000 after purchasing an additional 12,008 shares during the period. Marshall Wace North America L.P. purchased a new stake in Insteel Industries during the 2nd quarter worth $822,000. Finally, Monarch Partners Asset Management LLC boosted its position in Insteel Industries by 13.0% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 126,260 shares of the industrial products company’s stock worth $4,163,000 after purchasing an additional 14,495 shares during the period. 81.29% of the stock is owned by hedge funds and other institutional investors.
Insteel Industries (NASDAQ IIIN) traded up 7.48% on Monday, reaching $29.16. The company’s stock had a trading volume of 422,141 shares. The firm has a 50 day moving average price of $25.49 and a 200 day moving average price of $29.82. Insteel Industries has a 52 week low of $22.50 and a 52 week high of $42.81. The stock has a market capitalization of $554.77 million, a P/E ratio of 19.57 and a beta of 2.10.
Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Wednesday, October 18th. 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 net margin of 7.24% and a return on equity of 13.30%. The company had revenue of $96.89 million for the quarter, compared to analysts’ expectations of $96.25 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts anticipate that Insteel Industries will post $1.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.41%. Insteel Industries’s dividend payout ratio (DPR) is 8.05%.
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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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