Insteel Industries (NASDAQ:IIIN) posted its quarterly earnings data on Thursday. The industrial products company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.07), MarketWatch Earnings reports. Insteel Industries had a net margin of 8.00% and a return on equity of 14.20%. The company had revenue of $121.40 million for the quarter, compared to analyst estimates of $130.38 million. During the same quarter in the prior year, the business earned $0.20 EPS. Insteel Industries’s revenue was up 25.3% compared to the same quarter last year.
Insteel Industries stock opened at $26.87 on Friday. The company has a market capitalization of $518.74 million, a price-to-earnings ratio of 16.27 and a beta of 2.20. Insteel Industries has a 1 year low of $24.51 and a 1 year high of $43.78.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.03 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.12 annualized dividend and a yield of 0.45%.
A number of research analysts recently commented on the stock. BidaskClub lowered shares of Insteel Industries from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 27th. Sidoti lowered shares of Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Monday, July 9th.
About Insteel Industries
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company markets prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). 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.
Read More: Technical Analysis
Receive News & Ratings for Insteel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insteel Industries and related companies with MarketBeat.com's FREE daily email newsletter.