Insteel Industries (NASDAQ:IIIN) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Insteel Industries, Inc. (NASDAQ:IIIN) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.53 and traded as high as $35.35. Insteel Industries shares last traded at $35.2330, with a volume of 169,253 shares.

Insteel Industries Stock Performance

The stock’s 50-day moving average price is $32.57 and its 200-day moving average price is $34.53. The company has a market capitalization of $683.38 million, a price-to-earnings ratio of 35.59, a P/E/G ratio of 1.81 and a beta of 0.81.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, January 15th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. During the same period last year, the firm posted $0.06 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. Analysts anticipate that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend was Friday, November 28th. Insteel Industries’s payout ratio is presently 4.94%.

Institutional Investors Weigh In On Insteel Industries

A number of institutional investors have recently bought and sold shares of IIIN. Vanguard Group Inc. raised its stake in shares of Insteel Industries by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,415,156 shares of the industrial products company’s stock valued at $44,818,000 after acquiring an additional 17,660 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Insteel Industries by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 990,770 shares of the industrial products company’s stock valued at $37,986,000 after purchasing an additional 11,931 shares in the last quarter. Geode Capital Management LLC raised its position in Insteel Industries by 0.4% in the second quarter. Geode Capital Management LLC now owns 448,861 shares of the industrial products company’s stock valued at $16,704,000 after purchasing an additional 1,919 shares during the period. Oppenheimer & Co. Inc. raised its position in Insteel Industries by 1.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 253,170 shares of the industrial products company’s stock valued at $8,018,000 after purchasing an additional 4,036 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Insteel Industries by 7.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 175,284 shares of the industrial products company’s stock worth $6,720,000 after purchasing an additional 12,177 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

About Insteel Industries

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.