Insteel Industries (NASDAQ:IIIN) Releases Earnings Results, Misses Expectations By $0.03 EPS

Insteel Industries (NASDAQ:IIIN) posted its quarterly earnings data on Thursday. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03), RTT News reports. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. The firm had revenue of $129.70 million for the quarter, compared to the consensus estimate of $117.45 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year.

Insteel Industries Stock Down 0.8 %

Shares of IIIN opened at $24.82 on Thursday. The stock has a market cap of $482.25 million, a P/E ratio of 25.07, a P/E/G ratio of 1.80 and a beta of 1.14. The business’s 50 day moving average price is $28.50 and its 200-day moving average price is $30.13. Insteel Industries has a 52 week low of $23.60 and a 52 week high of $38.40.

Insteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.48%. Insteel Industries’s payout ratio is 12.12%.

Analysts Set New Price Targets

Separately, StockNews.com cut Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

About Insteel Industries

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed 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.