Insteel Industries (IIIN) Scheduled to Post Quarterly Earnings on Thursday

Insteel Industries (NASDAQ:IIIN) will be posting its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Insteel Industries to post earnings of $0.22 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). Insteel Industries had a net margin of 3.71% and a return on equity of 6.16%. The company had revenue of $121.80 million for the quarter, compared to analyst estimates of $130.07 million. During the same quarter in the prior year, the business earned $0.44 EPS. Insteel Industries’s revenue was down 27.0% compared to the same quarter last year. On average, analysts expect Insteel Industries to post $1 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Insteel Industries Price Performance

NASDAQ IIIN opened at $32.77 on Thursday. Insteel Industries has a 12 month low of $25.44 and a 12 month high of $39.38. The firm has a market capitalization of $637.38 million, a PE ratio of 28.50, a P/E/G ratio of 2.19 and a beta of 1.14. The company’s 50 day simple moving average is $35.78 and its 200 day simple moving average is $34.51.

Insteel Industries Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. Insteel Industries’s dividend payout ratio is presently 10.43%.

Insider Activity at Insteel Industries

In related news, COO Richard Wagner sold 1,715 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $36.14, for a total transaction of $61,980.10. Following the completion of the sale, the chief operating officer now directly owns 40,952 shares in the company, valued at $1,480,005.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.60% of the company’s stock.

Institutional Trading of Insteel Industries

A number of large investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its stake in Insteel Industries by 5.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 6,702 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 342 shares during the period. Legal & General Group Plc boosted its stake in Insteel Industries by 0.8% in the 2nd quarter. Legal & General Group Plc now owns 47,659 shares of the industrial products company’s stock worth $1,605,000 after purchasing an additional 362 shares during the period. Rhumbline Advisers boosted its stake in Insteel Industries by 1.5% in the 1st quarter. Rhumbline Advisers now owns 53,384 shares of the industrial products company’s stock worth $1,975,000 after purchasing an additional 779 shares during the period. PDT Partners LLC boosted its stake in shares of Insteel Industries by 6.0% during the 1st quarter. PDT Partners LLC now owns 16,707 shares of the industrial products company’s stock valued at $618,000 after buying an additional 946 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Insteel Industries by 9.2% during the 2nd quarter. Alliancebernstein L.P. now owns 11,250 shares of the industrial products company’s stock valued at $350,000 after buying an additional 950 shares during the period. 83.27% of the stock is currently owned by institutional investors.

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.