Insteel Industries Inc (NASDAQ:IIIN) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus target price of $25.00 for the company, according to Zacks. Zacks has also assigned Insteel Industries an industry rank of 114 out of 256 based on the ratings given to its competitors.
Separately, BidaskClub raised Insteel Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 27th.
A number of institutional investors have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in shares of Insteel Industries by 284.8% during the fourth quarter. Bank of Montreal Can now owns 1,543 shares of the industrial products company’s stock worth $37,000 after buying an additional 1,142 shares in the last quarter. Rhumbline Advisers raised its stake in Insteel Industries by 16.8% in the 4th quarter. Rhumbline Advisers now owns 63,130 shares of the industrial products company’s stock valued at $1,533,000 after purchasing an additional 9,077 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Insteel Industries in the 4th quarter valued at about $102,000. Oregon Public Employees Retirement Fund purchased a new stake in Insteel Industries in the 4th quarter valued at about $169,000. Finally, Prudential Financial Inc. grew its holdings in Insteel Industries by 2.5% in the 4th quarter. Prudential Financial Inc. now owns 33,752 shares of the industrial products company’s stock valued at $819,000 after buying an additional 830 shares during the period. Institutional investors own 78.94% of the company’s stock.
NASDAQ:IIIN traded down $0.05 during trading hours on Thursday, hitting $21.26. 1,160 shares of the company were exchanged, compared to its average volume of 106,420. The stock has a market cap of $411.79 million, a PE ratio of 15.28 and a beta of 1.81. Insteel Industries has a 52-week low of $17.50 and a 52-week high of $43.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.25 and a quick ratio of 1.39. The company’s 50 day moving average is $19.55.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, April 18th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.12). The business had revenue of $111.95 million during the quarter, compared to analyst estimates of $119.81 million. Insteel Industries had a net margin of 5.91% and a return on equity of 11.10%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, June 13th.
Insteel Industries Company Profile
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
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