Insteel Industries, Inc. (NASDAQ:IIIN) announced its earnings results on Thursday. The industrial products company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.20, MarketWatch Earnings reports. Insteel Industries had a net margin of 7.24% and a return on equity of 13.30%. The company had revenue of $96.90 million during the quarter, compared to the consensus estimate of $122.39 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue was down 16.2% on a year-over-year basis.
Shares of Insteel Industries (NASDAQ:IIIN) opened at 26.30 on Friday. Insteel Industries has a one year low of $22.50 and a one year high of $42.81. The company has a 50-day moving average price of $32.22 and a 200 day moving average price of $34.51. The company has a market capitalization of $500.36 million, a PE ratio of 14.32 and a beta of 2.16.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, June 14th. Insteel Industries’s payout ratio is presently 8.05%.
In other Insteel Industries news, VP Richard Wagner sold 20,465 shares of Insteel Industries stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $31.99, for a total value of $654,675.35. Following the transaction, the vice president now directly owns 48,464 shares of the company’s stock, valued at approximately $1,550,363.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.70% of the stock is owned by insiders.
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About Insteel Industries
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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