Insteel Industries (NYSE:IIIN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Insteel Industries (NYSE:IIIN) from a hold rating to a sell rating in a research note released on Monday morning.

Several other equities research analysts also recently weighed in on IIIN. Weiss Ratings downgraded Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Zacks Research downgraded Insteel Industries from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Insteel Industries Stock Performance

Shares of IIIN opened at $25.68 on Monday. Insteel Industries has a 52-week low of $24.35 and a 52-week high of $41.64. The firm has a market cap of $498.96 million, a price-to-earnings ratio of 11.78, a PEG ratio of 1.67 and a beta of 0.53. The business’s fifty day moving average is $32.54 and its 200-day moving average is $32.68.

Insteel Industries (NYSE:IIIN) last released its quarterly earnings data on Thursday, April 16th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.53). Insteel Industries had a net margin of 6.16% and a return on equity of 11.72%. The firm had revenue of $172.65 million for the quarter. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that Insteel Industries will post 1.32 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, March 13th. Insteel Industries’s dividend payout ratio (DPR) is currently 5.50%.

Insider Transactions at Insteel Industries

In related news, COO Richard Wagner sold 1,679 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $37.67, for a total transaction of $63,247.93. Following the completion of the transaction, the chief operating officer directly owned 40,000 shares of the company’s stock, valued at $1,506,800. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its position in Insteel Industries by 6.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,641 shares of the company’s stock worth $210,000 after purchasing an additional 416 shares during the last quarter. Strs Ohio raised its position in Insteel Industries by 3.0% during the 3rd quarter. Strs Ohio now owns 16,900 shares of the company’s stock worth $648,000 after purchasing an additional 500 shares during the last quarter. JPMorgan Chase & Co. raised its position in Insteel Industries by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,421 shares of the company’s stock worth $361,000 after purchasing an additional 508 shares during the last quarter. Unison Advisors LLC raised its position in Insteel Industries by 3.0% during the 1st quarter. Unison Advisors LLC now owns 18,736 shares of the company’s stock worth $630,000 after purchasing an additional 540 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in Insteel Industries by 1.2% during the 4th quarter. Kennedy Capital Management LLC now owns 47,890 shares of the company’s stock worth $1,517,000 after purchasing an additional 552 shares during the last quarter. 83.27% of the stock is owned by institutional investors.

About Insteel Industries

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.