Insteel Industries (NASDAQ:IIIN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Insteel Industries, Inc. (NASDAQ:IIIN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $34.58 and traded as high as $37.68. Insteel Industries shares last traded at $37.0340, with a volume of 76,091 shares.

Insteel Industries Stock Down 0.7%

The stock’s 50 day moving average price is $33.79 and its two-hundred day moving average price is $34.58. The firm has a market capitalization of $718.31 million, a price-to-earnings ratio of 37.41, a P/E/G ratio of 1.81 and a beta of 0.84.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, January 15th. The industrial products company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.The firm’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. On average, equities analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, March 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Insteel Industries’s dividend payout ratio is 4.94%.

Hedge Funds Weigh In On Insteel Industries

Several institutional investors have recently bought and sold shares of IIIN. Vanguard Group Inc. boosted its stake in shares of Insteel Industries by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,415,156 shares of the industrial products company’s stock worth $44,818,000 after acquiring an additional 17,660 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $37,986,000 after purchasing an additional 11,931 shares during the last quarter. State Street Corp boosted its position in Insteel Industries by 0.5% during the fourth quarter. State Street Corp now owns 727,168 shares of the industrial products company’s stock worth $23,029,000 after purchasing an additional 3,919 shares during the period. Geode Capital Management LLC grew its holdings in Insteel Industries by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 484,466 shares of the industrial products company’s stock valued at $15,345,000 after purchasing an additional 2,830 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Insteel Industries by 14.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,767 shares of the industrial products company’s stock valued at $11,616,000 after purchasing an additional 46,213 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Company Profile

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.