News stories about Insteel Industries (NASDAQ:IIIN) have been trending somewhat negative this week, according to Accern Sentiment Analysis. Accern rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Insteel Industries earned a coverage optimism score of -0.02 on Accern’s scale. Accern also gave news headlines about the industrial products company an impact score of 46.5174873769875 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Shares of Insteel Industries (NASDAQ:IIIN) traded down 7.55% during mid-day trading on Monday, hitting $25.60. 191,959 shares of the stock traded hands. The stock has a market cap of $487.04 million, a P/E ratio of 17.18 and a beta of 2.10. The firm’s 50 day moving average price is $26.05 and its 200-day moving average price is $29.28. Insteel Industries has a 12-month low of $23.20 and a 12-month high of $42.81.
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 the consensus estimate of $0.25 by ($0.05). Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The firm had revenue of $96.89 million during the quarter, compared to analyst estimates of $96.25 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts predict that Insteel Industries will post $1.64 earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be issued a $1.00 dividend. This represents a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Insteel Industries’s payout ratio is 10.17%.
A number of research analysts have commented on the stock. TheStreet lowered 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 report on Wednesday, August 2nd. Finally, Longbow Research downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold”.
In other Insteel Industries news, VP James F. Petelle sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were 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 directly owns 14,788 shares in the company, valued at $400,902.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.70% of the company’s stock.
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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