Insteel Industries Inc (NASDAQ:IIIN) declared a special dividend on Friday, October 20th, Wall Street Journal reports. Investors of record on Wednesday, December 20th will be paid a dividend of 1.00 per share by the industrial products company on Friday, January 5th. This represents a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th.
Insteel Industries (NASDAQ:IIIN) opened at $27.55 on Thursday. The company has a market capitalization of $517.34, a P/E ratio of 23.02 and a beta of 2.11. Insteel Industries has a twelve month low of $23.20 and a twelve month high of $39.20.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 19th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The business had revenue of $96.89 million for the quarter, compared to the consensus estimate of $96.25 million. Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. Insteel Industries’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 EPS.
In other Insteel Industries news, VP James F. Petelle sold 1,000 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $27.11, for a total value of $27,110.00. Following the completion of the transaction, the vice president now owns 14,788 shares in the company, valued at $400,902.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.70% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on the company. TheStreet downgraded Insteel Industries from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Longbow Research downgraded Insteel Industries from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. Finally, BidaskClub downgraded Insteel Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold”.
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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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